Ann: Funding Package and JDA Agreed with J-POWER, page-21

I have put on a if I was to buy into GNX objective hat with this latest news. In doing so I have a few questions after reading the funding announcement and then doing a once over of GNX's financial leverage taken from Commsec (eg current Net Interest Cover is 0.36, Net Gearing is 162.70%, return on equity -2.50% and return on capital zero): Is there some level of desperation happening where GNX now needs to source more money to keep the business moving forward in the face of unforeseen/foreseen cost blowouts? If they are confident in the business and future income growth then why not seek additional cash from shareholders through another equity raising or go out and borrow more money from existing lenders? Is the increase in cost of new capital putting even more pressure on the numbers mentioned above? Are government grants and tax advantages drying up? Are future revenue increases going to improve their financial leverage anytime soon? And finally what is J-Power's reasons, apart from getting more into the Australian space and taking a share of the operation, for throwing more coin into this agreement? Time will tell.