Likely the case, but regardless of who it is, the only that matters for us is the dilutionary impact. I don't care if it's LG/POSCO/GM, all I care about is what price it is done at and how much we are raising.
If we can somehow get a pre-payment from LG/POSCO for their offtake, that would be an extremely bullish sign. Add to that some additional low cost funding from the Qld Government and we are well on our way.
Despite management saying they would like to do 60/40 debt/equity, I would be surprised if this is the way we will go, particularly given the volume of government debt that is likely going into it. We should be willing to take on greater debt, if at lower rates.
Not exactly the market to raise $800-$900m in equity, especially when your market cap is $200m.
Think we're in for a strong next 3-6 months, as we continue to derisk.
All IMHO.
Ann: Debt Financing Update, page-54
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