So, they've said in the last couple of ann:
- the capex requirement is going to be proportional (or less than proportional) to Stage 2 known capex. Capex ok!
- some operational improvements to reduce opex have been introduced during the fixing of the filtration problem. Opex, ok!
- the funding is going to be via a pre-payment of the 10ktpa plant production and there will be a finance structure in place (debt?). Seems no dilution. ok!
- the partner will be on board at the time design/engineering works are finalised and the EPC is ready for execution.
- the partner seems to be a tier 1 EV supply chain entity. Seems they have someone in mind already. Probably the same entity they took to visit Romina a few months ago. The investment bank must be there so make sure is the best possible deal and short out the debt.
Not bad from the outset. It seems the project is going to hit all the economics.
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