Don't know if this has been posted. Good to see projects getting the actual funds instead of endless EU Gov't talk.
This is an integrated hardrock (spodumene) project in Finland to produce Hydroxide
https://www.sibanyestillwater.com/business/europe/keliber/
So all up a project of ~E750 ... 67% Debt Funded and 33% Equity funded ... not too dissimilar to what VUL is targetting (65/35)
Keep in mind that VUL hasn't done is final pre debt funded equity raising. Total project (without financing costs) required E1,400M ... so that's an equity contribution of E500 (rounding up) ... that's if we are going alone which we aren't ... Imagining an asset sell down of about 40% -50% ... to cover most of VUL's required equity contribution to the JV. Still, a sale of say 30M shares at AUD$4 brings E70M adding to whatever we have at present (~E50M) and SOI around 220M ... all sort of telegraphed by FW already.
Getting closer to the pointy end of the stick.
VUL megathread, page-7638
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