From the August 2022 Investor Webinar, Mark speaks about the financing of the project. He is very clear that they are aiming for project equity for the 40%.
Initially he’s talking about banks having to understand graphite/anode before funding can become available:
"So, there’s been a bit of a learning process and that holds things up, like debt. Now they’ve come up the curve, so it gives the opportunities to go from very much project equity sort of finance strategy to a more standard model where you’ve got access to debt, particularly looking at export credit agencies, development banks, and these financial institutions in Europe, to get really cheaper opportunities for the finance for the project but there will be a smaller gap that we’re looking at with strategic partners, and they’re looking at equity. When we say equity, we mean predominantly in the project, not necessarily in Talga itself."
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