As per announcement; "It is anticipated that finance will be...

As per announcement;

"It is anticipated that finance will be sourced through a combination of equity from existing shareholders, new equity investment and debt providers".

At this point they've indicated 60% debt funded.

"IonicRE has completed preliminary discussions with debt and equity providers, and potential concentrate offtake partners. Numerous expressions of interest with regards to providing Project financing have been received. Feedback from these discussions indicate the funding model will most likely be a mix of debt and equity. Further feedback indicates that the Project should be able to be financed with 60% to 70% debt with the balance to be provided by equity markets."

Meaning 60M USD debt and 30M USD in equity.
Assuming they buy the remaining 40% of the project. They can then offer that 10-20% stake for 30M USD as an equity placement or similar.

Issuance of shares via equity is dependent of the S/P when doing so. Come revised BFS and them presumably allowing the full resource into the study will then be around 4-5Bn LOM EBITDA across 30Y. If 100% owned with 150M USD annualised EBITDA i doubt our MC will be 150M AUD

SF2TH