Base case (1Mtpa) is unlikely to fly, in my opinion.
Ultimately you need $600M, absolute minimum, even if you believe the base case is viable. Whether you borrow it or get it via dilution is relatively immaterial at this point. Might get some from selling Lewis Ponds, but nowhere near enough.
I guess the other option is selling KNP, but I don't see any risk appetite at this point.
Anyway, I'll leave you to it. Got no dog in this fight.
Ann: High-grade nickel-cobalt mineralization extended at Goongarr, page-55
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