My guess is that they probably only have about $10m of the ATM facility left. I think the next announcement we will see will probably be the halting of construction. The problem is that there are costs associated with closing that down and also keeping the project on C&M, so they will probably try to secure another short-term facility of some sort. The other issue is that they will be negotiating any deal with the Chinese from a position of weakness. The Chinese, of course, will want to ensure that the export licence is actually issued. Right now it is only an MoU and may take a number of months to get confirmed.
Ann: Quarterly Activities and Cash Flow Report, page-194
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