Unimpressed, mainly because it signals the financing deal isn't...

Unimpressed, mainly because it signals the financing deal isn't close. This buys them some time and allows them to keep progressing the project.
But at some point, surely, they have to accept reality and slow down on the expenditure side of things until finance is secured.
And while the discount rate is only 10% (lower than the discount on a proper capital raise), the 'nominated floor price' is not stated.
As such, the announcement, released after market on a Friday, smacks of desperation and obfuscation.
Let's just pray they use the time they have bought for themselves to secure a proper funding package.
Alternatively, a predator may smell blood in the water and put forward a takeover offer.