Could do, offtake prepayments or co-investment is one of the key...

Could do, offtake prepayments or co-investment is one of the key ingredients to SFX getting funding.

"The Company is seeking the trading halt pending the announcement of a proposed equity raising
and offtake arrangements in relation to the Thunderbird Mineral Sands Project (“Transaction”);"

Mentions nothing about cornerstone investment though. IMO they will first release the news of some off-take agreement while in a TH, then continue in a TH to complete the CR using an updated presso with off-take details and anything else they want to let us in on.

The longer term plan is obviously get all the met work done, release the new BFS, and fund the project hopefully fund in conjunction with off-take partner co-investment. The zircon off-take buyers tend to be too small for making substantial investments downstream to support new mines like TB imo. The TiO2 players are generally bigger and it is a tighter market now and moving forward by the looks, they are more likely to come to the party with significant pre-payment line of credit or investment funding.

If SFX has signed an significant cornerstone off-take deal and are doing a CR before announcing it to market I would be disgusted. Such a hugely important and value adding outcome should be announced and let the price run first before a CR. The only reason I can think of to not let the market reprice such good news before a CR is because they want to get mates and funds that have been supporting the price get set more cheaply. Those who put in the the last two CR at 65c and 39c for example would want to bring their average cost price down and maybe get their money back. Best way to do that is with a cheap placement before good news is announced and the price re-rates.

Interesting few days next week. My bet is that this is a vanilla non-mag offtake arrangement with maybe a small pre-payment line of credit upon FID. Never know with this mob though ...