IMHO - the key pre-requisite to a viable company is finance. Where is the cash coming from?
In POS' case, PH told Marcus Padley that POS could access offtake funding, equity finance and debt finance.
Maybe these don't have to come all at once. Assurance of offtake funding could lift the SP to enable a reasonable CR. Then debt capital will be de-risked considerably - and only a small proportion will be required.
Who would be an offtake partner ?
Ann: Investor Presentation - Noosa Mining Conference, page-16
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