Ann: EmiAfrica commences Environmental and Social Impact Studies, page-22

Absolutely it would be better.

But it won't be better if said 10m is raised at a forward VWAP of unknown pricing and the S/P tanks to 3c.
IMO - They are better off cutting a deal with the devil and offering a small portion of AVZ. I'd much rather raise money to huayou or CATL etc for solid known price. The More share's the company removes from retail the better. It also forces said companies to have vested interest in the success as if the company tank's and they don't support it they lose their investment or risk an outside entity snatching it from them.

At some-point they will need to cut a deal. Otherwise we're having the same conversation in 12months.

As previously indicated. AVZ said it has cash to FID. Also manono acquisition terms was AVZ was responsible for funding through to DFS. To me this seems to indicate that after the DFS is complete financing will be initiated. If that is the case - then i wouldn't expect a CR.

If a CR does occur (and it's not to a corporate body/company)- IMO it will indicate that they do not have confidence or guarantee of capital finance for the project after the DFS is completed. At that stage I would consider selling my free-carried holdings.