How about this:Spin out the mine and the pastoral co. 20% is...

How about this:

Spin out the mine and the pastoral co. 20% is already sold. Sell another 25 - 29% (keeping a controlling interest inside ASM).

With $200 m from the government, some build own manage components and some debt the mine can probably be developed.

If not, or if you want some leeway, do a capital raise and/or take on a major partner inside ASM (probably the same one that took the position in the mining co). Again keeping control.

Now you have 2 businesses funded and controlled by ASM. You have major partners, who are probably also off take and manufacturing partners, and maybe providing some or all of the finance.

Just a thought, sitting by a lake with a whiskey in hand.

Looking forward to see what happens.