RE: Now the need19 Nov 2024 15:54
Manifesto I do think it may be somewhat premature for us to reveal the "financial plans for commercialisation" in anything other than outline terms with the ML. Why? Well, if as we all believe the ML is approved in the next few weeks the Galactica project will still be in its infancy and I do firmly believe that they will need to progress someway further with the Galactica project before doing so; and also have a CPR in place. The Galactica development will provide them with future income streams to service any Debt funding and, only once proven up, provide an asset that can be collateralised.
Maybe a JV, well maybe but again only with a Feasibility Study, a CPR and a proportion of Debt Funding being contributed by He1 in my view - otherwise the JC partner will end up with too large a proportion of the funding requirement and therefore future income streams from Rukwa. Unless of course we fund our contribution with a Cap Raise...? And I am sure that neither any shareholder nor the Board would choose to do that if Debt Finance was available.