Only following the IGE story as an interested observer since...

Only following the IGE story as an interested observer since ADIA, but this is the first I've heard of this as well. Was this $1.5M payment to SGC disclosed anywhere else before? They were pretty adamant that no funds were payable upfront to ADIA for the promise of future funding, so I assumed the same applied to the $90M. Apparently not.

IMO, it's a completely different story if this was a case where a relatively unknown overseas third party approached you offering to fund your $90M project only if you paid them A$2M upfront, rather than them paying you without receiving anything upfront. It makes the alternative hypothesis that the $90M funding promise isn't legitimate much more likely. Terrible situation for shareholders.