I’d say 49% too high given how much of the risk/work/expense has...

I’d say 49% too high given how much of the risk/work/expense has been made already. Maybe 33% for that, but could seem very expensive for the incoming party. Tricky to pin the deliverables to the percent given up too. If we’re talking $220 million AUD debt and another $250 million to get stage 2 done 33% is 1.1 billion shares would effectively be raising capital at 44 cents. 49% would be 2 billion shares or 25 cents.