The company can't use the NAIF to fund its construction - the NAIF is only available for infrastructure that supports these projects - like rail to transport ore from a mine to a port, or roads to drive prawns to a port. The Northern Territory government already provided all the road upgrade money. So, NAIF funding won't be a thing.
The company has been really clear - they need to raise money by selling 30% of the project to an "off-take partner", and taking a massive loan for billions of dollars. At the last investor meeting, management was clear that that 30% was an "aspirational target, it may be that we need to sell a little more to secure funding"
I believe SFG is a great spec-stock, but let's be realistic - it's going to take a decade before its worth a prawn.
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