It took me a minute but I think I understand what you're getting at....
You do realise when people say capital raise they are referring to issuing shares for cash?
My point was that with cheap debt available for the green deal in Europe, Talga won't need to do that to raise cash. They may give some equity in the project to LKAB and/or Mitsui but MT has said that will be project equity. It's not issuing Talga shares in a "capital raising", and MT will seek to limit partner project equity as much as possible.
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