P2 timing9 Dec 2025 08:17
I’m expecting funding news soon, and if DFC backs the full project (P1 and P2 together) then the current Phase 2 timeline probably goes out the window. Right now P2 is shown as something that happens years after P1, mainly because it was assumed the company would need cashflow from P1 to move it forward.
But if the funding comes in upfront, that bottleneck disappears. They could start the P2 groundwork straight away – engineering, long-lead kit, site prep – instead of waiting.
I’m not saying they suddenly build the whole SPG plant overnight, but pulling P2 forward by a year or more looks completely feasible. The only reason they couldn’t accelerate it is lack of capital, and if DFC solves that?
So the question is simple: if full funding lands, why wouldn’t Phase 2 run earlier and in parallel with P1?