Although I thought JW suggested that a cap raise could form part of the build funding? Present Market Cap at $250m. Project cost $150m or 3/8ths of combined value at $400m. I think the market would then revalue the company SP pretty quickly especially with binding off takes attached. JW seems the type of bloke who'd offer present supporters a good chop of the equity required.
Ann: Corporate Presentation - February 2022, page-161
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