Nicely stated my view is a little different in that Debt will fund the required expansion of the modular units and this equity raise may have been a requirement to satisfy a provider of any debt. Facility.
The next announcement I envisage is the signing of a debt facility for our subsidiary or maybe I am misreading Bahay's position..
A tolling prepayment from a customer would only happen if the first plant was up and running in situ for this we need equity and maybe debt (interest paid from toll payments when brine processed we will need a debt facility to finance the working capital for construction. Remember this is new technology and first of a kind build - hence we have to install and fit the first light in the lighthouse as a beacon to all that the technology works as stated on the label.
It seems we have the laydown space both in Melbourne and Perth (maybe for mining wastewater storage we are concurrently working on) and now off and running to build first working module for transport to site !. Lots of bugs to iron out along the process to satisfy Tier 1 companies.
The only question left in my mind is the Government approval to use the cleaned water during the concentration process elsewhere and we seem to have engaged with Government at a reasonably high level for an in-principle agreement to proceed/pilot on site.
Didnt we do an urgent build and pilot for mining on site with Government oversight. ?? I seem to recall it somewhere or did this amount to nothing.
In data gathering terms it should have sufficient evidence now.
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