pure metals / cap jv - no cap raising, page-2

Not now, but CAP will now be required to pro-rata contribute once the $5M BFS spend has been complete. So while the hand doesn't have to go in the pocket immediatly, the multi-billion dollar capex spend will require CAP to fund.

The plus side is that there are no current terms stated which allow for Pure Metals to increase their interest in the JV, so assumably if they wanted to own say 75% of the JV in HIP, they'd need to purchase it from CAP, or come to an agreement i.e. Pure Metals to earn an additional 35% interest in the JV by paying $XXM dollars to CAP, or funding part of CAP's capex contribution.

Still a few uncertainties, but a much better outcome that the status quo over the past year