Ann: Mt. Porter Mining Update, page-9

Provided an Agreement extension can be secured AHK plans to:
 make a further draw down under its Gold Loan Facility. AHK’s lender has
required the Agreement extension be procured before further funds will be
advanced;
 pay the security bond required by the Northern Territory Government (Bond);
 commence mining as soon as is practicable thereafter to comply with the
Delivery Schedule; and thereafter
 raise sufficient capital to replenish funds used to pay for the Bond.

Ok had more time to soak this up. So once they get the toll treatment extension from the NTMO, AHK plan to:

1. Draw down on the loan facility again.

2. Pay the bond to the NT gov for the renewed agreement.

3. Start mining

Then AFTERWARDS:

4. Recoup the bond costs by raising capital.

Given that mining would have started when they look to recover the bond costs, this could be funded by the selling of ore, though the wording strongly suggests a CR. Importantly it comes in the derisked situation AFTER mining has started, not BEFORE, so any raising would occur at a price very north of today's figure.

Given the delays involved and constraints applied by their financers, I believe management has charted a good path forward. They will get this project over the line.