Ann: Blackstone to raise $60m via Placement and SPP, page-26

Sam:

A deal will probably involve forfeiting up to half of the ownership for the downstream subsidiary which is a shame but thats the reality, I have a feeling it will be similar to what FFX did with Ganfeng for their lithium deposit (mix of debt and equity funding for 50% equity), but with Ecopro most likely

That is NOT "the reality." That is a BAD deal. Every metal, every deposit, has its own metallurgy, demand, price, etc. An offtake is vital. (I believe an offtake in an in-demand commodity is not a problem -- it's the terms.) Therefore the DFS will give a strong floor to the BSX sulfide Ni pricing.

With a material binding offtake in hand, BSX's financing path includes more options at better rates.

OV