Probably needed to get overall financiing costs down to make it easier for HAS to reach the 40/60 equity/ finance threshold now the sp has tanked.
40% of total costs are now around $190m, of which HAS has already spent $153m, so another $37m required.
The current cash position won't cover the shortfall so another cap raising will need to be undertaken imo to satisfy the funding gap at the time of securing the debt funding, but it is much better than what it was before today's announcement.
Ann: Yangibana Rare Earths Project Cost Reduction, page-5
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