Although your reasoning is sound, no one even mentions the fact that this facility has been available for the past year and was not acted upon.

Why could it not be that they extended its' availability strictly for the purpose of having it available when the need arises?

Yes, it sounds like all the ducks are lining up, but after 5 years holding these shares I have a difficult time guessing what management is doing because, well, I've never been right up until this point, and most here are in the same boat.

I am keeping fingers crossed that there will be a partner that needs an equity stake to come onboard and this is the reason the prospectus has been extended, but given the past history, my hopes are shallow at best.

Hope is never a good strategy.