Well, don't worry too much this time because IMO the opportunity really is there, if our MD can play it right (and I think he can), for full finance to be arranged for the BSX share of the JV via the assistance which is explicitly made available for projects in the Australian National Interest. That is why I am so excited about Australian nickel as a feed source for the refinery.
That means no dilution of our holdings for the refinery build. As for mine construction, I don't know, perhaps EFA finance can extend to that too because it is in Vietnam's interests, once they have approved the permits. They are party to the refinery transaction too, it is their country and they must benefit from having their nickel processed through it for it to be mutually beneficial for Australia and Vietnam in my idea of the ultimate business model, one which likely has expedited permitting and construction timeframes.
However once the refinery was generating cashflow in this scenario we could easily self fund mine construction as well. If we had to raise capital to do it our share price would of course be higher to reflect the fact we operate a globally significant refinery to the highest ESG standards so dilution there would be very minimised compared to if we had to raise it now off such a low MC.
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