Pertinent market/industry news/articles, page-5696

I agree @the squash that it's likely we won't see much additional dilution - and we only need to go back to how IB structured the buy in of Inco back in 2005. Under that deal, IB still quoted a 70:30 debt/equity mix, coupled that with the JV equity proportions (back then it was 60:40 Inco/HRR), and the bottom line for any HRR equity requirement would have been an additional $19M for a $1.4B project. He mainly managed that through a loan component (for the HRR equity component) to be provided by Inco.

Nothing in that earlier deal catered for offtake pre-payments, or Oz Govt grants or Export Finance Authority loans, or any foreign Gov't grants and EFA loans etc, which as everyone may recall, AP has continually referred to encouraging talks he has already had with a number of them.

And as we know, Major Project status here should result in a fair hearing for funding access. Heck, even ASM with its rare earths Dubbo project has already received promises from govt agencies for over $1B of funding and that project is still some way off where we are at the moment.

Then he (AP) has the rest of the 25% offtake for the GHub he could partly pre-sell, plus he could JV out the Yerilla and Kalpini Hubs for any equity injections required. Plenty of options for ARL to look at before going to the mkt.

If AP can pull that off, then we could easily get to your predictions.

Of course, the big anchor at the moment (IMV) is the history of a large partner pulling out of the PFS process, even after spending $35M on the PFS. And before our resident troll chimes in, most of us know that event was due to a world wide economic crisis. Which, sure, could very well rear its ugly head again...

Just have to continue ...waiting...