Ann: Preliminary Approval for up to US$657m in Funding from EXIM, page-101

Well done to MJ and the board to reach this milestone, and continue the good work until the deal is signed.
I believe the company will need to source more working capital(Other than the $3m) to see the company into production, and may well be in the vicinity of $100m, but at what price is anyone’s guess.
I noticed today that New Century Zinc just completed a cap raise for $116m with relative ease. In my eyes Citronen is a much more viable and lower cost producer than New Century in reclaiming tailings. I believe our management team are more than capable of organising a beneficial deal for shareholders in raising more capital, after all that’s what Bacchus was appointed for.
regarding the SP, in theory the SP and market cap should converge towards the value of funding or the NPV, but whether this occurs is yet to be seen. After all, IBG has been a strange beast to ride over the years and is rarely rational. Either way I’m glad to be on the train and holding a bag full...toot toot!!!