Ignore my previous post, managed to hit send before I finished...

Ignore my previous post, managed to hit send before I finished typing..

I have a question, hoping some can help.

Pg 8: "In relation to procuring binding financing commitments, in return for WMM allowing MYL to vest its equity in the project immediately, the Company has now committed to procuring binding finance commitments within 3 years which may require spending of up to US$14M on project early works.The partners plan to commence early construction works as quickly as possible following grant of the MIC permit, funded through equity contributions."

So my question is embedded in my attempted interpretation of the above:BJV has allowed MYL to realise its equity state in the venture immediately (what is the major benefit of this - does it help with providing a form of security for finance - i.e., give the financier the ability to take a royalty?), and in return they are obligated to obtain the finance (to fund the mine construction?) within 3 years? But in order to obtain the funding, we are looking at spending $14m on mine construction costs which will need to be funded through equity. Since we got about $11m cash on hand, that'll be via a cap raise? (which is circa 140m more shares on issues if raised @ 10cents)

So questions I suppose are
- Is MYL looking at offering a royalty to the financier?
- Finance is to be obtained within 3 years, so they are looking to have the mine completed before 2023 (assuming the finance will be needed in advance to complete the rest of mine construction). So we might not be looking at getting up to 2mtpa + production capacity until 2024+ ?
- Short term horizon, we are looking at least a $14m cap raise? (so lets hope for some good SP moves to minimise dilution).