I think these are all normal preconditions you would see in any debt deal.
The biggest outstanding condition to me is satisfactory equity and customer commitments into the Project.
The whole point is for these goverment agencies to provide commitments in whatever form when ordinary commercial entities wont take risk in the form of project risk- its not for Government to compete against the normal banks- and doing so at early stage project phase is commendable.
This then gives EOS current financinal support to help its other funding discussions by having this in its back pocket and increases negotiating leverage in their equity and customer discussions.. A no brainer to help fund Australia companies building high tech solutions sold to the world.
Coupled with a $80m cash war chest the funding target seems quite reachable. Get a deep pocketed and strategic equity provider to go 50/50 on equity and OHB to fund the rest as vendor financing and you are nearly there. If not, give away majority control over Block 0 but retain rights to go 50/50 on Block 1.
(20min delay)