The Equity Financing part In TAM's plan for financing the Pine Point project they taked about senior debt financing and Equity financing. As I mentioned before in one my post, at the current share price any Equity fnancing will create a major dilution that no one having shares in this company will like and they would better of (TAM management) focus on the Senior Debt financing and the off take smelter finance. There is another possibilty, they could always get the senior debt financing start the construction and this will raise the value of the SP to a point where the Equity financing could make sense.
Over the long run I don't see why Tamerlane wouldn't be able to follow Trevaly footsteps, Trevali SP is now reasonable compared to the SP, but Tamerlane is much undervalued and the potential fo it to reach Trevali level is sweet news for TAM's investors.