agree with you - they would need something to be able to get...

agree with you - they would need something to be able to get debt/offtakes - i perhaps did hear in one of his interviews that they will do a concurrent scoping study to phase 1 when they have the proof of concept plant operating. Given they are fully permitted with mining licence, they have the luxury of being able to do it this way which is much better i think and should have some concrete data to provide lenders with for debt financing. They would also obviously have the cash flow generation from Phase 1 activities to help fund expansion/and potentially Bauxite flows.

Alastair has said they should be able to better progress offtake discussions now that they are now relatively well funded and once they finalise stage 1 planning and lock down target volumes etc. He indicated they would have offtakes in place by year end, but recently mentioned that offtake discussions will accelerate now so hopefully sooner!