The estimated capital cost of getting Buena Vista off the ground...

The estimated capital cost of getting Buena Vista off the ground is $161 million.

They have recently raised $4.52 million from a placement to Veritas Securities. Not sure how many shareholders there are, but lets say 500. If all take up their $15,000 maximum entitlement, that will raise a further $7.5 million. This is enough to cover some of the current outstanding costs and some of the permitting and design costs but the project cant progress too much further without outside funding. With the share price lower than the 32c share placement price, i cant see the uptake being too high although they may be able to place any shortfall to Veritas securities clients.

Hebei Steel havent met any of the funding commitments outlined in the initial agreement and since it has been so long since there has been an update, there must be doubts about if the deal is still happening. It may or may not be, who knows.