GALILEO,You're probably right about the SEQUENCE of events re...

GALILEO,
You're probably right about the SEQUENCE of events re CQT, but they will undoubtedly need to raise capital in some form at some time before the project proceeds. Recall the PFS announcement:

* Upfront pre-production capital cost of approximately A$110m

CQT is fine for cash at the moment (far better off than most juniors), but as I recall they have about $30 million, nowhere near $110m, so debt and equity raisings are still on the cards for some future date.