With the cash on hand, there is no need for a cr any time soon. A cr will likely temporarily cap the sp so makes no sense ahead of the end of April when the April 2023 options expire. The likely strategy will be to continue using cash on hand (won't need to spend much until after final enviromental approvals are in hand and off takes secured which in turn should see the debt facility secured. With all that and other news, including the green ammonia study and the announcement of the results of the capex reductions, the options should be in the money. Option exercise will see more cash come in. If any further cash is needed to finish the project (amount needed would depend on capex reductions) a cr beyond April will hopefully be from a much higher sp.
