Another observation is that whether construction costs are $185 or $280m, this raise is only a small portion of that. $33m from the current CR being spent on construction related costs.
This says to me they are confident of PEPR, FID and satisfaction of $185m govt loan covenants in next couple of months. IE to enable follow on construction funding coming from the govt loan.
Otherwise, the raise would have been larger because they'd soon run out of cash again....
Ann: Trading Halt, page-132
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