i can only presume that the reason why we haven't see updated flow rates as yet is because they are really waiting for a significant upgrade to come through, rather than a series of smaller upgrades.
From memory, previous years saw 1 upgrade during the year rather than a number of smaller upgrades. Whether this is the right strategy, who knows? Maybe they have little alternative, given the significant water levels?
However, DC has primed the market for a significant upgrade. So the confidence is obviously there, it is now just a matter of beating the market's bullish expectations on it.
I dare say the institutions participating in the recent raising would have been told that upgrades were coming through this year, given they did raise $100m at a relatively modest discount.
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