I'll further add to prior post that Monash would be acutely...

I'll further add to prior post that Monash would be acutely aware that if ALDP is successful the ECT price may well be much higher than current.
I reckon they would prefer greater equity participation/ownership than a higher participation ratio in the CDP SPV where more than likely equity participation lower due to greater royalty proceeds. This would be at the forefront of the overall funding structure delays as well.
The ECT needs to rightfully protect current shareholder interests and not dilute too much of the company over to the primary private funding partner.