Yep, they've still to fund substantial infrastructure in order...

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.