Been there, done that before. I celebrated 3 years ago when the OT was signed with SKI, with the same condition: Subject to getting the mine financed. Sadly, with their present mgt and BoD, I cannot see how AUD at <$100M mc will raise in excess of $1B.
I made the mistake before. If it was my money, I'd take the 40% rise and cut my losses/lock in profits and get out. Good luck to those prepared to take the plunge. Great gains and and many CRs with maybe OZ' first 1 Trillion shares on issue coy await you!
Ann: Binding offtake agreement signed with LG Energy Solution, page-126
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