predicted share price, page-45

Well yes true in a sense...although its unheard of for a small cap fund an entire project from a capital raise but yes if they issues 4,000,000,000 new shares (and everyone participated) maybe you get 6c share price for a $240 million raise. In theory it’s possible.

In reality it will never happen. The project will be funded via one of the following (ranked in my opinion most likely to least likely):

1: Shenghe invest a majority of the capital and take a large minority stake (49% or less) to appease monopoly concerns and gain FIRB approval. The rest of the funding is debt funding based on binding off takes.

2: Shenghe invest all the capital required and take a controlling stake. This will pend FIRB approval.

3: Binding off take agreements allow full debt funding of the entire project. 

There are are infinite variations of the above but I believe 
Shenghe will play a large role in securing their future supply and terms similar to the above.