As I understand from what has been said previously, this is the...

As I understand from what has been said previously, this is the funding strategy of AAU...

For NS:
- Negotiations ongoing with offtaker (I am 99% sure it is Trafigura) for pre-payment of offtake quantities. Vacinity of $25-30M. Would be interesting to know if terms are agreed now, pending this final bit of drilling to extend the project life a few years.
- A smaller loan to cover the gap between the pre-payment and the cost to develop the project ($5M?)

For LD:
- Work currently shelved to save costs. Hence the delay to deliver the DFS. Focus is on putting money in to NS. I wish they had done this much earlier and stopped spending on LD sooner - if they did, we would probably be well on the way to mining already rather than having spread our resources too thin.
- AAU and Cuban government to give away a combined 50% interest to the new JV Partner in LD in late 2025. So AAU would retain 25%, as would the Cuban government.

I hope that this is the focus in the webinar... as I think financing is the subject investors are most interested in. I asked for a funding update as well as a status update for the sale of goods in the DR and timeline for reception of awarded funds from the arbitration.

I think they'll fill somewhere between $1.5-2M in this entitlement offer. See if it is enough to get them over the line with the pre-payment for NS development.