Happily that is incorrect @Crocodile2017. If you read the CNJ CR prospectus, Conico directors have committed to taking up their allocations, which alone stand at slightly more than 40% for the total raise.
However, it is possible, if no, or few other shareholders buy in, that CNJ will not have enough for their share of the PFS. Will BAR bail them out? Probably. After all, we have the money, and I'd personally support Barra owning more than 50% of the Mt T resource.
However, don't forget that both BAR and CNJ have cornerstone investors with very deep pockets. There's no fear of not being able to fund the PFS. The only question is how this JV continues in a way that inspires confidence in investors and re-builds SPs.
Barra management are top. Things will be worked out.
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