There will be a third party involved before they make any...

There will be a third party involved before they make any investment decision around even proceeding with a refinery. You need an OTA in place first before you can obtain funding, although they may be tied, you also need to prove you have a strong enough balance sheet before a lender will go near you.

Companies and Govts have been burnt previously by NAL and we have just avoided C&M , so first we need to prove we can operate at low spod prices, which is what we are in the process of doing now and start building some cash.
Refinery talk is nice but expectations need to be moderated IMO any deals done at this stage would be from a position of weakness and very dilutionary.

Cheers Whisky