I'm thinking the Offtakes have some leverage/bearing on the configuration/options re financing.
So probably in a way they are Aces up their sleeve and play a fairly big part in the funding equation.
Having said that the cards played so far haven't excited the market in any way, and it isn't reallt buying that hand whatsoever.
I'm not quite sure why that's the case, but in my mind it's either the market has looked at the DFS and isn't buying it or the sales pitch is missing. Possibly a bit of both.
Probably time to show those Aces soon, otherwise trend continues, and I would think a weak market capitalisation puts negotiations in favour of the financiers.
Or at best financing gets done....but in terms of any equity raise required current shareholders get a bit done as well.
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