My understanding of what role NAÏF plays, is that it is there to...

My understanding of what role NAÏF plays, is that it is there to provide loans to build infrastructure that indirectly supports the enterprise but has a community benefit eg rail, road, water, energy, etc.

The way I see it, while these components are vital, they do not have a direct impact on profitability of the enterprise (or minimally at best)..

If this latest announcement means that NAÏF takes equity in the lower earning utilities while staying away from the higher earning mine and refinery, I won’t mind.

Once we see the detail, we will know if this is what will happen.