Royalty speculation, page-17

No, the way I read it was that the bond needs to be in place before the financial closure, not just that ECT needs to advise how it will be funded.

The government option sounds great and I'm all for it. However, how long do you think it will take them to get that in place?

As per the announcement they are looking at a number of options for the bond. Cash on term deposit is the best and fastest ways to get a bond. We know we don't have access to $3.5m cash so they are looking for govt guarantees etc. I suspect they will be discussing options with Efic as an alternative to cash.

https://www.efic.gov.au/

My point is that these things aren't just put in place overnight. Given we are still reviewing options I can only assume that no approval is in place, and therefore if no approval is in place we are several if not many weeks away from execution of a bond. Factor in Christmas and the New year and you'd hope we could get this in place by late February IMO.