Yes I am aware. And I think the chance of succesful finance is...

Yes I am aware. And I think the chance of succesful finance is excellent. If this project can't get finance few can.

But considering the current global backdrop, having a backup safety net in case of very adverse conditions in the near future seems like a good idea.

As said it would only need to be a relatively small raise, just to be able to keep things going for a while, and in the more likely case of a positive outcome that money isn't wasted.

Worst case its a little extra dilution, but it could protect our investment and the potential great returns if the worst does happen.
But obviously VR8 management is in much better position to judge this. There is every possibility they already are well advanced in negotiations with several partners for offtakes and funding. But at the first sign of difficulty I hope they will be wise enough to replenish the bank account and secure the future.

Many mining companies have gone bankrupt by playing chicken with financial markets and getting run over by unexpected headwinds. The best protection against this is enough money to be able wait for conditions to improve.