Hi Marcus A, sorry to dig out an old(er) thread, but I have been doing lots of listening and reading. I am particularly interested in finding out what the JV entails.
In this interview on Youtube, from the 9 minute mark,
The CEO of EF said "...we basically buy about half of the project..... and everything else from there on is shared equally with our partner on the project". Based on this, I think that the $180m + EF stock is to buy into the project and then EF/ATR share 49/51% of all costs going forward based on this.
In term of the this quote that you referred to "Energy Fuels’ investment of A$180 million is expected to satisfy most of the equity capital requirements for the construction of the Phase 1 project" - they will need to raise $450m for the phase 1 capex (including working capital), so 51% of that is $230m. So if ATR receives $180m in cash, they then just need to borrow around $50m to satisfy the project capex + working capital, with the rest coming from EF. Hence, this explains why ATR said that the $180m from EF will satisfy most of the equity capital requirements.
Hence, I think whilst we wait for the official announcement of the JV, or if we have a JV at all, this is my base case going into the forthcoming announcement.
As a side note, I am hoping they can access the ~$50m loan from the Critical Mineral Facility.
And I am also keen to hear about the progress of the relocation of the head office from HK to Australia.
I hope I am not wrong but keen to hear other's view as well. Anyhow, it will not be long to find out!
