I can't confirm this, so yes this is pure speculation, but i...

I can't confirm this, so yes this is pure speculation, but i heard KNL walked from Nedbank due to the rates. And I've never heard of an explorer walking away from mine-building-finance unless they have a better plan/rate. Again, pure speculation at this stage, but we're all speculators at this stage.

My thinking, KfW Bank and EFIC to provide the bulk if not all funding. The Germans (remember that $100,000 grant which funded our development of a game changing EcoGraf?) have been extremely accommodating and history seems to indicate this will continue. We'll probably need to tip in something, but i'm thinking the EGT or Sojitz will come into play here (or EcoGraf stake, NPV US$145m and due for a re-valuation, up, thanks to improving metrics), probably with a mine stake. Why? Remember the EGT originally wanted 10% of KNL but the risks at that time - a couple years ago now - were simply too high. Sojitz also have a vested interest in graphite supplies from anywhere but China - particularly being a Japanese company with the country involved in disputes with China about their boarder - will be eager to de-risk given this escalating trade war and hot-heads who seem to run the show nowadays.

I'm not sure, because I've never seen a sovereign guarantee in play (Aussie banks during the GFC?), but nothing says confidence like the backing of a country, and not just any country, but Germany! If my time in finance has taught me anything it is money begets money, and i think the UKF will literally open a flood of funding enquirers and given it will be the last spot on the KNL-icebreaker we'll have, i expect it to be highly competitive and adventurous for KNL. Germany, after all, will have provided a guarantee at that stage.