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Good find noddy123. It's a 'buying time' statement from Blumont if anything. It doesn't really tell us much, but I guess they had to say something to their shareholders. In any event, we'll find out more in due course. I think the placement will go ahead at some point as both parties seem pretty keen.

So I've been going over the numbers on the capex & funding page from the AGM presso just now. It says we have a further $178M to fund. This could be reduced by $15M if further negotiations on mine equipment are successful and the lease agreement is raised to 85%. The CHPP accounts for $97M which is to be funded via project debt and the Blumont cash ($22M) will reduce the balance of funding to $44M.

I'll be surprised and annoyed if RES don't try and secure the $44M balance via project debt (maybe they are but who knows???). If they don't or can't, then more equity = more dilution to come. So it aint over yet by a long-shot.

We need confirmation that the %50 ECA guarantee for the CHPP is going to proceed. This will probably be a pre-cursor to the project debt approval process.

I would also like confirmation on how much RES are looking to secure via project debt. There are still to many unknowns, which is not helping our SP.

I've come to terms with the Blumont placement adding another 102M shares, but any more than this and dilution will further erode my chances of breaking even let alone showing a profit after these long years of holding RES.