Looking back at the Eagle's nest preliminary assessment, the initial capital investment is estimated at approx. $600-625 million. Of course this number could be lower based on more government inestment, cost sharing, etc. but for now will use this number.

To raise this kind of money at $1.25/share means that NOT would dilute itself by approx. 480 million shares which is much more than existing shareholders would like to see.

I've been thinking more and more about how NOT could finance a plant and the infrastructure, and have considered either a JV or share offering, but this would need to be at much higher prices. Does NOT have a few items up their sleeve to reduce the impact of dilution? I sure hope so. Will this be before the AGM? Thats what many here seem to think, but is the BOD really going to lose their jobs if they don't?

Any others have thoughts on how this $600M could be financed?