Ann: $740M Mardie Project Debt Funding Secured, page-8

Maybe....

See extract from announcement -
"Total funds will be committed over an approximate 5-year period to complete construction of the Project assets, commence operations and progress ramp-up of production and sales. BCI equity contributions will be spent first, followed by the NAIF facility drawn to 50% and thereafter, the bank facility, EFA facility and remaining balance of the NAIF facility will be drawn on a pro-rata basis."

BCI can't control the IO price so need to plan their final equity raising accordingly. I'm sure together with their advisors they are all over it.

Once we get the quarterly with the Sept Q earnings from IV and an update on their cash reserve, it will be easier for one to 'speculate' with more accuracy.