"His suggestion that the cornerstone investor has run to the hills and is not interested in investing at this stage is probably true since he may hold hope that the share price could be driven lower."
I can't see the cornerstone investor having any interest in the fertliser business. They were interested in the phosphate for P4. So I highly doubt the cornerstone has any intention of bidding for the company at a low price if that's what you're thinkng. The Angolan banks will fund the balance and the company will develop its fertiliser business.
If anything, the cornerstone perhaps wasn't worried about being diluted because maybe they have put the P4 on the backburner. That's just a guess based on lack of news flow on that project compared to steady newsflow on the green ammonia.
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