my plv model, page-28

Rockme, Im not sure it matters where the money comes from?

HBIS will help Richmond get the initial $9mil for long lead items and then help get the $161mil for full production costs. Most likely from a consortium, ie many different investors.

PLV would do the same. $700mil is too much from one source. So a JV 'partner' would use their credibility and an offtake agreement to guarantee supply for themselves and earnings for the JV to secure against the loan. Most likely a loan from multiple sources.

As for the RIGHT to 80% iron. They would be paying for it. They just get a gaurantee for it(set price/hedge) and they get first right of refusal on remaining 20%

The big hurdle here is the amount. You dont see many deals for this amount of funding, especially with small companies. Why would someone pump in that much capital for just 20% when they could own 100% of company for much less?

A major and wealth destroying cap raising MUST form a part of the move forward imo.

Thats why ive mentioned sp in my post. The $700mil may relate more to NPV of the project, but the ability of PLV to raise funds and the terms of the JV rely predominantly with the sp.