For those familiar with CAP - slide 4 is of interest. For those not familiar, the presentation gives a good overview of the reasons for the demand for the product that will be produced.
Slide 4 says:
* "CAP seeking A$25-30m for bankable feasibility funding (BFS) on the right terms"
This gives me the impression that there are currently offers, but not on good terms.
* "October 2017 - multiple third parties capable of substantially funding the BFS undertaking transaction due diligence"
Good to see that there are a number of parties.
* "November and December 2017" - Following recent visits to China and Middle East additional market participants are also seeking to secure off-take and support project development"
End users wanting to secure supply and therefore interested in providing funding.
As stated in the slide "The nature of any transaction in uncertain". However, the signs are looking positive. I would expect funding to PFS to be confirmed in the first quarter of calendar 2018.
CAP Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
