GM, LG and POSCO should be providing debt facilities to cover the CAPEX for Phase 1 and 2, page-50

tmc77, I think you are right, they may need to "right-size" an initial plant based on the funds available, and then expand later in the future if necessary.

Many a small cap project has been killed off because of over-sizing, for a variety of reasons, including greed, ego and management naivety.

The key is to take on what is manageable with the available resources that you have, and make it work.

To succeed, you keep it as simple as possible, and you keep it within manageable limits.

They need to plug in a whole range of variable factor values, and determine the outcomes based on them.

They need to rationalize and "right-size".

In the end, ego's and grand aspirations need to be put aside, clear management heads need to prevail, with some really smart and sensible thinking.

This project will now rise or fall on the "quality and reality" of management thinking.

Better to achieve something positive than to completely fail with a grandiose plan.

Gw