You are right. Page 3 spells out that this FS is advanced enough to start debt conversations - alongside an independent technical expert - whilst they complete the engineering testwork (the KBR/Hatch discovery we are waiting on) and identify cost reductions (an admission that costs are high) and a final capital estimate through “value engineering”.
But the completion of that due diligence is dependent on those two work items (testwork and capital estimate).
So the timing is about A. hitting an milestone of Nov and B. kicking off debt convo as early as possible.
Ann: TECH Project Feasibility Study, page-284
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