CB - we are very fortunate to have you on this site. Love your work and thanks (again) for the research and willingness to share.
I personally think this is a great find.
To be clear this is Government. They announced the Battery Strategy on 28 May, then 16 days later (13 June) announce $100M Critical Minerals Fund in buget, and then 14 days later (today) announce the application / EOI process for the fund.
Really - since when does a government work at that speed!!!
To add to this - if you go into the application form for either the $2M grant or $30M investment stream, the application form is literally one page ...for $30M!
For me, I would not be suprised if the other (Investment) stream is our go to. The extract for this stream is below (my highlights as to reasons why):Investment: Government equity and/or debt investment up to $30 million for growth-stage businesses looking to scale-up activity (delivered and administered by QIC).
For miners with a proven JORC-compliant resource requiring support through early development stages to the development phase, critical minerals and advanced materials sector businesses with product and/or process development and other emerging critical minerals and advanced materials sector businesses which are in the process of ramping up with scale-up activities underway.
This stream appears to have less co-equity / contribution requirements. It may not be the whole $30M we would apply for, but the co-investment option is something that I think would better fit with and support our current financial situation. Being one where we need both capital for projects and infrastructure, as well as operating income to continue and grow our operations to match our ambition in the international market.
In short, the things here of interest to me are:
- our unique product and role in this battery space;
- the speed of process to date;
- the lightness of touch in the application process;
- our boards expertise / experience / networks;
- we are well known to Government;
- the recent media / political connections; and
- managements confidence that we are getting funding from somewhere.
I won't go into reason why the above dot points are significant to me, as probably self-evident.....but also I'm possibly very wrong and others may have thoughts why the 'investment stream' won't happen, or wouldn't be a good fit for ADO.
So, another piece of information that for me supports the speculation that ADO may just pull this off.....but it is just speculation, as we continue to wait and see and hope.....fingers-crossed (still)!!
GLTAH
EB
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