$160 million??? I assume you are refering to KRN... IT's all in the details...

 

Ferti

 

"We expect the company will be moving forward on arranging funding for the development. Development capex for the project is US$2 billion to get to 2.125 million tpa of production with a Phase 1 requirement of around US$600 million. While the company will attempt to maximize the debt component, we assume a base case for debt being half of the CAPEX requirement which leaves a balance of $300 million equity which plausibly could largely be financed from cash ($29 million), this GSFC investment ($45 million), GSFC maintaining its pro-rata interest (say $45 million), possibly a second strategic investor (say $45 million) and existing leading institutional holders leaving a balance of less than $100 million to be raised from additional sources.