Regarding the article's quote: "Kibaran plans to fund...

Regarding the article's quote: "Kibaran plans to fund construction on a 70/30 debt-to-equity mix."

No-one yet has suggested the possibility that we do use a 70/30 debt-to-equity mix and obtain $US40 million from KfW IPEX bank alongside $US30 million from Nedbank.

The mix could approximate something like the following:

US$40 million debt from KfW IPEX Bank
US$30 million debt from Nedbank
US$35 million equity from Sojitz to build the Battery Manufacturing Facility.

This would provide a 66.77/33.33 debt-to-equity mix which is close to 70/30. And it would be consistent with:

1) The announcement detailing KfW IPEX Bank & Nedbank as potential funders: and

2) Andrew Spinks' quote from 4 August 2015: "Discussions commenced with strategic industry partners [insert Sojitz] to jointly fund the feasibility study and ultimately capex through direct investment into the project." (Page 1)