May be worth picking the minimum up in-case they do an SPP...

May be worth picking the minimum up in-case they do an SPP portion and you can't get access to raise, (if it was not performed by a broker!)

Remember the EU aspect of this too, critical metal and production inside the EU, Germans have been looking closely at this, offered favourable debt (but with those typical hurdles I mentioned) but in the SH best interest to avoid big dilution they may be able to seek negotiations (just my speculation on this part). Transamine onboard will also have access to provide some means of debt funding.

[[The Santa Comba project enjoys considerable industry support, having received a 5-year offer of offtake from a leading global German-based consumer, H.C Stark Tungsten GmbH (‘HC Stark’). Furthermore, the Company secured the strategic investment of Transamine Trading (‘Transamine’), the world’s oldest privately held commodity trader based out of Geneva. Transamine also agreed to provide logistical support and offtake for 100% of the tungsten and tin concentrate over a 3-year period, greatly assisting the Company in its early commissioning period. The tungsten offtake is to be structured as a back to back trade through to an end user, such as H.C. Stark.]]