Ann: Debt Financing Update, page-10

I believe this project is going to happen.

From the announcement:

"EDC’s interest is in relation to potential equipment and services supply from Canadian companies for the construction of the TECH Project. The provision of financing by EDC is subject to the successful completion of its due diligence process and typical project finance conditions such as security, debt servicability and equity financing.

You would have to expect a rather large equity component for a $2B capital expenditure for a $200M market cap company.

I'm curious as to how the ASX assessed this announcement as they generally don't support the announcement of non-material news and especially given they decided to mark it price sensitive. The announcement states "Non-binding letter of interest...". I guess they've wrapped up enough information to get above the threshold of what the ASX considers information of a material importance.