I totally agree SMZ...the OEM has been a total cluster F*ck....

I totally agree SMZ...the OEM has been a total cluster F*ck. Unfortunately there was not a lot of small scale bespoke LHe plants which management could have inspected as part of their due diligence. Instead it was a paper based decision relying on the reputation/qualifications of a rocket scientist and support from independent helium experts and financiers. Unfortunately once appointed, too much was invested materially and financially to change tact. It has created extreme financial pressure and reputational damage which I believe management have attempted to mitigate. Obtaining a bridging loan would never have been a preferred option but enabled the company to remain solvent until they sold the initial 5.5% Tetra4 stake. It has been and will remain to be catch up until LHe comes on line and/or Stef can sell the additional 4.5% Tetra4 stake.
Looking at the 2024 Annual report you can see some great work has been done in relation to the other aspects of the project and they are well placed for Phase 2. Hopefully you are right and the DFC has some sort of refinancing deal going and the lights will stay on.