Ann: GRR - Quarterly Report for 3 months ended 30 June 2021, page-73

I wouldn't self-fund SD if I was GRR. Keep cash in reserve and go to the debt markets or fund with strategic offtake funding. Also, Federal Government will look to fund shovel-ready projects post-COVID as part of the recovery process if they can demonstrate jobs and long-term benefits. See recent example with NAIF and Pembroke's Olive Downs Project receiving $175M project funding! An extraordinary outcome for a greenfield coking coal project on the east coast of Aus.

“Pembroke Resources has secured $175 million in funding for its' Olive Downs Coking Coal Project. Olive Downs will contribute between 500-700 jobs during construction and more than 1000 jobs once it is at peak production… Olive Downs has an expected 80-year mine life. A fantastic opportunity for the local and regional community around Moranbah and Dysart.”