I initially thought this would be something like a 70/30 or...

I initially thought this would be something like a 70/30 or 60/40 debt to equity split, but the macro turned much faster than I anticipated and this has put serious pressure on the counterparties.

Then that announcement a few weeks ago where they worded it with an implication of all debt funding + some prepayment perhaps was some seriously bullish language.

Normally I would be taking that with a fair grain of salt but it does seem plausible in light of the macro situation + the low capex required to get this running.

The thing is, the macro's not going to get any easier for the counterparties due to hard physical limitations going on in the copper market. Strap in everyone.