KNL Chart, page-567

This is how I imagine it to play out... and I am more often wrong than right for those concerned.

Finance approved with an equity caveat.

However do I expect the share price to be at the same level if finance is approved and Kibaran has to raise the equity prior to drawdown? No. I think there's still more to play out here, most obviously here back from Sojitz.

But who knows? Most likely none us here even given what management may or may not have hinted at...

But as you say an important point for discussion to pass the time until speculation is dismissed with fact.