Ann: Results of Extraordinary Meeting, page-16

It probably doesn't matter much what you or I think but I'll tell you how I would think if I was running the show.
The main end game here is to get maximum assistance with final finance and preferably a deal that will allow construction without dilution. If you look at the Mitsui deal of the past, it was heading that way if the total offtake could be arranged on the same basis. Obviously the other parties could not be persuaded. So now the Company has raised finance for a BFS. They can only have taken that road to allow for more favourable negotiation with off-take partners. This will only be possible when the feasibility study is well advanced and the parameters are more certain. There is absolutely no advantage for CAP to negotiate now before the uncertainties are mitigated. Premature negotiation makes no sense to me.