I seem to recall the VEC explicitly turned down other funding...

I seem to recall the VEC explicitly turned down other funding options when initially brokering the deal. wasn't there a Dubai entity which was willing to stump up 25M and vec turned it down.

hindsight's a wonderful thing, but I don't honestly foresee an issue securing better funding for the long term. the current arrangement buy 2 and a bit months to execute the deal.

if not, we cut a deal with the devil. far from ideal if that occurs and I will re-evaluate at that junction. Holding until then, IMO current pricing has factored in the risk that funding either falls over or goes ahead under terrible circumstances.

ironically vec is worth less than it was before it owned the project. could have a fire sale of equipment and still be above the current MC.

not without risk this one now, but worth the punt for me.

SF2TH