Hi Rusty, IMO gov funding will head to ARU on satisfaction of conditions precedent (including offtake), as per ARU's market announcement in early May.
Seen numerous Australian government agency "letter of support" statements from companies, but this is the first time I've seen one disclose a facility amount and term linked to EFA. You might recall EFA's mandate was changed to allow it to lend to critical minerals and rare earth projects https://www.exportfinance.gov.au/resources-news/news-events/government-news/2019/november/new-financing-measures-to-help-build-critical-minerals-sector/
This was a very significant disclosure by ARU, and would have to have been agreed by senior government people.
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