Hi river, thank you for your opinion. I actually rang then this afternoon and the call id say was a mixed bag but overall a positive one.
Everything with contractors have been sorted and with the new contractors have gotten some cost cuts on their estimates for construction which is nice. Had a breakthrough in talks with a buyer that wants to buy in bulk. which wasn't in their expectations, so they have been figuring out how they logistics will work with transport since they port they will be using for when production starts is a shallow water port. so it's a large part of what they've been working on.
Funding was a large part of my concern but the long and short of it is, they are talking with more then just their mou partner and the gentleman wasn't concerned about a sales agreement or funding when I asked about concerns. he did note investment interest has been positive in these talks so if you can trust it. the funding will be seen through.
My final concern was material announcements and this is what I found to be a mix. it was a fair bit of hmm and haar about what will be released along with the fact the delays seem to be whats cause the stall in news flow as some ideas had to been thrown away with development changes such as the contractors changing. the answers weren't concrete enough other then important material announcements in the new year and a construction update during this month is maybe on the table which irked me a little.
another positive is their other projects are being noticed by investors according to him and I think these projects are being considered in the discussions since you'd imagine they'd be wanting to acquire long term partners.
generally I think there is more positive then negative in what I've written and I though I do find the announcement side annoying. I do know projects like this do have a risk and it was clarified to me that this delay in funding is on the buyer end as one of the debt structures fell away, not out of the picture mind you but also on the back burner. I do think the funding will come through and I was told they have been lean with spending and aren't concerned on a big impact with their funds on getting a good deal.
River id implore you to ring and ask some more sophisticated questions then I can and give us your opinion on the matter. would love to thoughts on what I've told you
cheers
apologies for my grammar, writing on my phone
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