IMHO IRD have worked out there is no chance of them getting $3-4B capex in the short term.
If the Gawler project is good they can maybe raise 300-400M capex and have a little project that pulls in maybe 100-200M per year (depending on the opex)
That would bump up the SP and at least give them more options around future financing for CEIP.
Gawler could come on board quite quickly.
IMHO IRD have worked out there is no chance of them getting...
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