This article was written on 15/04/2016 and I have just copied it for full article you can read on above link.
" Moving forward, Dr Mitchell confirmed the company would be looking to tap into the Federal Government's new $5 billion Northern Australia infrastructure fund.
"Some of the opportunities related to the Northern Australia Infrastructure Facility (NAIF) can enable us to bring forward other financing more quickly," he said.
"We've been clearly following this opportunity closely as we try and talk to potential overseas and local investors about how to get the whole project financed."
The key changes which will mean more projects qualify for NAIF finance, include:
1) broadening the types of infrastructure so NAIF can consider facilities which are essential to the
establishment of a business activity in a region. This includes for example food or other agricultural or resource
processing plants and supply chain operating assets
2)allowing NAIF to lend up to 100% of the debt, for appropriate projects, which removes the 50 per cent cap on NAIF debt
financing.
3)giving NAIF more flexibility around the gap test, relying on the Independent Board to determine
whether a project could proceed without NAIF assistance. NAIF will still seek to encourage private sector finance
through NAIF’s participation in a project.
Ms Walker said the focus on public benefit, Indigenous engagement and the requirement for the NAIF finance to be repaid remain key objectives which must be demonstrated on all projects.
I only put this on as the project is on NT and this is from NT chief minister.
Chief Minister Michael Gunner said that he welcomed the changes at the Ministerial Forum on Northern Development in Kununurra, yesterday.
“My Government's number one priority is creating local jobs, and the NAIF needs to start delivering for Territorians,” he said.
Alongside Mr Gunner, treasurer Nicole Manison and assistant minister for Aboriginal Affairs Selena Uibo attended the forum.
“The NAIF has the capacity to create jobs for Territorians, but has yet to deliver any loans for Territory projects,” Mr Gunner said.
“The changes confirmed by Minister Canavan today, give the NAIF more flexibility in funding Territory projects and cut red tape for applicants,” he said.
The main changes are:
• The removal of the $50 million project threshold, which was never mandatory, but created confusion for applicants and industry.
• A change in definition of “infrastructure” beyond road, rail and other projects, to also include supplies, services and facilities, which are essential to establishing business in remote regions.
Now, this is why I am saying they are seeking money from NAIF because SFG executives are on talk with NAIF. I am not saying NAIF will give them fund but by reading articles that's what I understood. Now do correct me, if I am wrong.
I did read somewhere about but not 100% sure they are actually only seeking fund for the 1st stage, not the 1.5 or 2 billion, after completion of 1st stage they are going to use the revenue from the 1st stage to complete the other stages of project. So they are building all the facilities and 10000 hec. ponds as 1st stage.
The most important part is we should find out soon. Not long to go. So I guess we just wait and see, whoever believes in PSD should hold their stock and wait. this is just my opinion everyone should do their own research.
SFG Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
(20min delay)