I expect 200 million to come from the EU, and I expect the rest to come from mitsui. Other people bring the money, and Talga/MT bring:
1. ownership,
2. 10 years of developing the asset (time = money fellas),
3. permit
4. intellectual property
5. skilled labor
A de-risked asset shoots up the share price to 5 or so AUD/share, and into the SP raise there MIGHT be a dilution event if Talga needs further cash to last until 2026.
Why would anyone in their right mind CR before de-risking the project? On the same order of concern as "why would anyone pay 15x price for something they can purchase at 1x today? Pants on head retarded.
Ann: Mitsui Extends and Expands MOU with Talga, page-46
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