Ann: Quarterly Activities Report and Appendix 4C, page-193

Your post 03/02/25
If Minbos doesn’t think the off takes will be agreed (with Carrinho or Foskar), they might feel they have no choice but to raise the outstanding amount via an equity raise. This outcome isn’t my baseline assumption, but I do see it as plausible.

Your post 05/02/25
Why would Minbos want another cornerstone at 4c? They have made it clear they intend to finance all remaining capex costs via debt. If that falls through, it will be symptomatic of a much deeper issue / problem.

At least you are pragmatic,,,,,,

Let's hope that any alternative to IDC will be debt and I think that it might just come to that ! The sea is full of fish and we just need to find the right one !