From an older announcement, we have now progressed to Phase 3, things are starting to pick up pace. Gen 3 has produced mass production for Panasonic and Samsung SDI (possibly others). Between the $150m US grant and this loan, there won't be massive dilution to scale the Phase 2 build out that the market seems bearish on currently.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-23
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