Positives: The raised funds will be partly allocated to...

Positives: The raised funds will be partly allocated to Monadelphous early contractor involvement and site overheads. On the programme provided at the recent quarterly, these activities are undertaken prior to FID. Shows that they're intending to do the necessary pre-FID / pre-construction phase "stuff" this year.

Neutral takeaway: My read is that FID will not be achieved before this raise is completed in September (see above why - they need this money to pay Monadelphous to undertake early contractor involvement and get their team mobilised). The quarterly programme indicated this activity takes 2 months - so FID by November at the earliest but no guarantees.

Negative: To paraphrase a learned Jedi master, "this is not the equity raise we were looking for".