Ann: Conditional approval for up to US$150m from KEXIM, page-19

With in excess of 100 moving parts / variables that ARU do not control;

1. 6 funders, all with underwriting partners, all with BOD's, all with shareholders to please.
2. 4 seperate goverments, all with lengthy processes that require boxes ticked
3. 6 offtake partners
4. 10 startegic equity parners
5. 40 stakeholders of interest including construction, engineering, local council
6. A scoping study for expansion - independent negotiation with regard to this outcome. Vetting by boards in question
7. modeling new tariffs, mandates and subsidies from last month, and then passing to external independents to support equity negotiation. Again, vetting by boards in question.
8. Equity negotiation, particularly strategic, and to get the best deal for us shareholders. The critical component.
9. Legal and Financial advice for all of the above.

So, thinking about just some of the 9 points, that I could think of in 30 seconds, and then considering the hundreds of others, including workforce on site, timing of funding, existing cashflow, order of long lead items to fit our timeline, and standard ASX requirements.

When would you suggest would be an exact time that they would be ready? Would you make this decision, and publicly place every persons agenda in your timeline? That is crazy to suggest they can give you a time, beyond crazy.

With the above in mind, you let us know how close we are: You have as much information as they have, oustide of the finer details.

Fast forward three years, let this time unfold, you and others are making what should be an exciting time for the next Rare Earths producer - miserable.
I'm sure not on purpose, but you are not thinking prior to writing emotional outbursts.

@rae19 - They draw down debt after equity to reduce the interest costs, and then they have factored. YES, they dont do billion projects and forget capitalising debt.