*FAR Price Target Cut 40% to A$0.06/Share by Morgan Stanley, page-266

"That scenario could see the funding required to first oil in the region $1.5b or half the expected total costs of Phase 1 bringing in the possibility of using a JV funding facility alone to first first or thereabouts and alternative funding after that. JV funding was expected to be 50-60% of the total Phase 1 costs "

Is the expenditure of the jv funding normally totally independant of individual participant funding of the balance? As in the scenario above? Available to be drawn down at will?
Or are drawdowns of jv finance normally subject to the individual participants making part or all of their contributions first? Therefore increasing the asset security for the jv financiers.
Is the jv funding subject to the individual participants having funding of the balance in place?

Anyone? I have have no idea how these are normally or always setup?
tia