The $50 million is for the expected development costs after the earn-in for the 25%. The project costs are expected to be $200 million. Of which 25% is funded by Lilac. If we get another 70% from the UK ECA, then this project is all but fully funded.
There is still a small risk that the Lilac technology won't scale, but there is a big carrot to now ensure that it does.
This is a massive de risking of the Kachi project and is a huge step in the company moving to production.
Ann: Lake and Lilac Technology and Funding Partnership signed, page-26
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