If they do not get funding on the back of the LG Agreement then I think they are unlikely to get funding any time soon - they have everything in place to go mining and LG is an undoubted offtake party in terms of providing a foundation for a funding proposal.
I would have to think that any funding proposal will include an equity injection and IMO it was/is inevitable that a consolidation would go hand in hand with that. Depending on how they handle the equity injection will determine the extent of dilution existing shareholders will experience but given they are likely to be courting Institutional investors the extent of the dilution will depend on whether they offer any participation to existing shareholders and on what basis. That said retail shareholders should experience a decent increase in the value of the company in the event of funding being approved to compensate for any dilution that might be experienced should an equity injection be part of the funding proposal.
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