I agree with the sentiment. But practically speaking I would say it wouldn't make sense to lock up rail capacity (and cash bonds/guarantees) before a positive BFS which would be 12-18 months away if they had it fully funded.
Conversely, HAV are some distance from a PFS and no real guarantee that they will get past that point looking at the GFG deal.
Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-93
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Mkt cap ! $61.74M | |||
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