The project needs $450m+ in addition to the loan (plus say...

The project needs $450m+ in addition to the loan (plus say startup costs and contingency).

Marengo has stated NFC may invest 15% at project and/or company level, PNG govt 30%. As per the pro rata intention I dont think the PNG GoVt will cough up for more than 30% of the reqd equity.

You can cut down on some dilution through notes, or an offake deal or something more creative, but you still need to raise a lot of money and most likely issue a lot of shares. The current register is a billion shares even before the new players come onboard.

Dont get me wrong I am very positive and holding; I am merely responding to a previous query.