And that was a half a million $s invested by Lew, via the placement. So no small stake.
The key here is the future path for off-take prices and debt providers being willing to back those working out for HAS. The forecasts all look good. The equity raise suggests the equity backers are happy. Thyssenkrupp's offtake is at market prices, so I can't see that they are assuming any risk, and hence don't provide any surety for bankers.
Thyssenkrupp obviously see demand. And Lew and other recent equity investors are obviously confident. We just need the debt providers to demonstrate the same confidence.
We're waiting on the next announcement with the resource upgrade "to grow project life and improve financial metrics further" - see the 22feb announcement. That should be a pretty substantial upgrade. After that hopefully everything else falls into place.
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