Thanks, barney, I looked through the Singapore presentation but totally missed that line. Goodo! Though with it being H2CY25 for a revenue start I would be hoping more for 14-20 months than 18-24 months.
So $4.5m of the estimated $12.5m for the 4ktpa plant is in the bag. But to pull the FID trigger they need another $8m. A big ask for existing shareholders when the market cap of the company is only presently $24m, especially when Comet Resources, which holds 24% of existing IG6 shares, is a dead weight.
Seeing this project is primarily downstream chemicals not so much upstream minerals and is intended to be revenue earning from day one I'd be hopeful of a government agency like the newly activated National Reconstruction Fund Corporation or maybe Australian Renewable Energy Agency (ARENA) will step up to the plate with maybe a mix of seed equity and debt.
Anyway hoping for the best but expecting a disappointment that this latest dose of non-dilutionary funding puts a cracker under the IG6 share price.
IG6 Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
