I wouldn't be too concerned about the oppies. The company will...

I wouldn't be too concerned about the oppies. The company will be on it's third or fourth sales agreement, locked in funding, BFS, environmental application and mining application by then. It will still be a choppy ride, but we will be in a vastly different place by then in terms of the sp, especially if the line in the LOI announcement about TK "assisting" with debt or equity is announced.

It's too early at LOI stage to negotiate a whole lot of stuff in advance for additional involvement (over and above the 20 ktpa purchase agreement, I mean), so TK and KNL won't put the cart before the horse, but I'd be expecting that once TK were happy with the binding off-take, then all parties would be negotiating on what level of involvement they will be taking. The key for me is that they said "debt or equity", which indicates that every option is on the table.