The fund has been sitting there with huge amounts waiting to be spent for a couple of years now. It's not like it's free money, they are simply providing loans to be repaid with interest. $350m is reasonable given they are starting to provide bigger lumps now due to how long it has taken any projects to get to the funding stage.
Not there to make shareholders rich? Aus shareholders spend money in Aus - the multiplier effect of Gov providing funds to projects like this and making Aus shareholders well off would be considerable. Previously Aus mineral projects have been making foreign bankers rich as they provided credit at high rates and took big whacks of free shares for the privilege too. It was criminal how the lack of gov support saw billions and billions flow out of the country.
While Ian has been spruiking the staged capex as a good selling point - and rightly so it can limit dilution, I can't help but think they are possibly missing a change in the landscape given large funds can absolutely be available now - especially for critical mineral projects, battery mineral projects, AND in an NAIF zone. The trifecta!
It absolutely cannot bloody hurt to submit an application for as much as possible for GVP. The approval notice would rerate the company for starters - again that limits the equity give away to foreign companies as they have to buy in at a higher price. IDK perhaps Ian doesn't think the market is sufficient yet.
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