You'd think this would have been a market sensitive...

You'd think this would have been a market sensitive announcement. I've only just seen it now. My thoughts are that it seems to be a little strange that a company that owed EVM money for the licence fee now has their MD on the board after the licence fee has been reduced, as @Maca01 has pointed out. Otherwise he seems like a good director to have for the company, but he is by no means an independent director. However, The Conversation seems to suggest that directors with skin in the game perform better than independent directors, so I'm prepared to go with that because we need a miracle and every other possible piece of assistance now.

https://theconversation.com/experienced-shareholders-better-than-independent-directors-for-business-61160

Regarding the ongoing technical assessment of the site - assuming the funding for the tower is dependent on the technical assessment, then what happens if the technical assessment fails and the site is deemed to be unsuitable? Surely this is a very real possibility, because otherwise why the hell would you spend money you don't have on a technical assessment you don't need to obtain the funding? You would do it AFTER you have obtained the funding if it wasn't a prerequisite for the funding. Unless they're still scratching around trying to make it appear to the Arizona state government that something is happening on the land they have been allocated and telling them and the market that there is an ongoing technical assessment is the only way they can do it.

Regarding the unsecured debt, that is very good, but I'd like to see the fine print in the contract to see if it can only ever be paid back from financing. What if the full financing isn't obtained from the tower, only part of it, like the Valentia deal was going to be? Does the debt have to be repaid then? I don't think this will be enough to get them relisted. That's a good thing. If they relisted like this we would be destroyed. More debt and no way of paying it back? Every shareholder just waiting to hit the sell button? It would be a share price disaster, in my opinion.

I bet the company is trying to relist even now, on these terms, as we speak. Anyway, I don't want to be too negative, because on balance this is a good announcement.