As far as I understand it, Sigma will get the funding for stage 2 and 3 (if the takeover doesn’t happen). So I don’t think the issue will be obtaining funding, the issue will moreso be about the impact on shareholders of dillution and/or covering interest payments with free cash if it’s a debt financing option.
Stage 2 I think takes them to 500ktpa or thereabouts and stage 3 more like 750ktpa. Huge amount of output.
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