I dont see why banks would not lend the money to get things moving. Once these contracts have been fulfilled and some revenue has been generated I think it will be a pretty valid show of the business capability to make money.
I also think its prudent to consider the statement on the yearly about a new package under way which will dramatically decrease the overall cost of building an HX. They may be waiting until it's completion, what ever form that takes, before proceeding further.
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