Yep, they've still to fund substantial infrastructure in order to make that size of development come true, so further dilution and debt required on AVZ's side. I still see the SP gains being greater here, though obviously they are headed for a massive project there now - will be fascinating to see at what cost they can get product to market. Looks like both companies are going to be winners.
FFX Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held