should mhm change its business model in the us, page-13

by the way I can't see them doing a cap-raise even for a 250ktpa plant, for that size plant you will have good contracts backing it up, so bank financing would be available, The SP moderation there is the presence of debt. With such short payback periods involved tho , the lag in higher targets for SP would only be temporary till cash flow proven showing pay down.

So my guess ST is big contracts = big plant and bank finance

or small contracts = small plant and no debt.

They could still go for debt financing for the smaller plant but the no debt gives us higher SP so hoping they go that way..

Of course once we hit USA, and can demonstrate our first plant , bigger plants inevitable imo with bank finance for these easier.