My information is that IFFCO are relatively unconcerned about the share price. They just desperately want to get their hands on the Phosphate. Getting to market will be done by borrowing not share placements (certainly not at 90 cent) They have just started the process to make the find an official bankable resource. Once done, that will be a recognisable asset on the balance sheet. If you look at the presentation on their website you will see that expenditure for the pipe is towards latter part of the timeline. Once they have a bankable asset and with IFFCO already in place, their only problem will be choosing which bank to go with.