If the new CEO is good, and the product is appealing, he should be able to get NST back on the hook. WA resources sector has very few degrees of separation so chances are our CEO has a connection to management or the board that he can leverage.
The problem with NST is that the original deal with ERJ required no investment or payments from NST at all, with ERJ carrying the full cost of plant + install and then NST would buy back the power when (if) it all works as planned.
I guess beggars can't be choosers and VPR need a proof of concept to open up numerous opportunities. But if the CEO is really good he might have managed to improve the terms of the deal a little in VPR's favour.
Pool party imminent!!
Pin Drop, page-17
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