Ann: E25 HPMSM project selected for US$166M DoE Grant, page-63

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Iknowyysh

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27/09/24

18:08

Post #: 75878644
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Originally posted by sammy72: ↑

So assuming the NAIF funding comes through for the mine, E25 is still going to have to fund:

1. The balance of the HPMSM plant in Louisiana. If the Govt funding of $166m is meant to be 50%, then with the other funding of $115m, they will need an additional $51m for financial close.

2. the balance of the costs of the Butcherbird expansion (I believe NAIF can't and won't fund this entirely as it is not consistent with their investment mandate). If NAIF funds 50% of the $50m cost, there is an additional financing task of $25m.

This suggests E25 needs to raise approximately its current market cap to get both projects off the ground.

Options seem to be some combination
a. Cap raise (but this would have to be big and underwritten to make a meaningful difference
b. Further off take agreements for either Butcherbird or Louisiana
c. Part sale of either Butcherbird and/or Louisiana
Other??

I am new to investing in the company, so don't have the full history of what has happened to date. Would appreciate the views of those with more experience in the company on how the financing gap might be met.

cheers
Sammy

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Balance will be debt.... they will have plenty of Tier 1 lenders willing to finance this given 80-90% is covered by non dilutive funding already.

E25 Price at posting: 33.0¢ Sentiment: Buy Disclosure: Held
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Ann: E25 HPMSM project selected for US$166M DoE Grant, page-63

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Ann: E25 HPMSM project selected for US$166M DoE Grant, page-63

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