My theory on the announcement delay ARL is waiting on conditional approval from Export Finance Australia for an amount circa $600m (roughly 20% of total) from the critical minerals fund. Once this is received the following will occur - ARL is able to bring to the JV, great asset and conditional loan of $600m dependent on DFS - JC can then go to stakeholders and get funding for DFS as they can advise the above and will receive 15-25% equity and preferential off take agreements to fund the DFS and providing mining knowledge and experience in laterite mining. - Agreement signed - DFS will occur with the already approved suppliers of the now JV. - DFS comes back as expected - Export Finance Australia approves $600m based on DFS - JV can go to market and easily obtain senior debt funding for the build as it has, great asset, DFS, mining knowledge, off take agreements, mezzanine debt funding of $600m and experienced JV - ARL JV now has Mezzanine and Senior debt funding at cheap rates to build and start mining.
this is my speculation and not compiled with any facts. DYOR and GLTAH
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