Hey what a great result!
$US380 mill of assets generating close to $US100 mill cash flow.
$US1.1 bill generating nothing. YET!
Of the $US1.1 bill, the Philippines has $US620 mill which requires 1 condition precedent (CP) to get funding. 48 CPs are complete.
Indonesia’s $US480 mill is down to an offtake and then maybe some CPs for the banks.
The blackouts in the Philippines caused massive wholesale price spikes (up to $US 17,000 per Mwh) so it is not surprising the DOE have become heavily involved in supporting EWC. EWC will provide clean energy and additional capacity. The final Philippines CP must be imminent.
I am still not sure about the timing in Indonesia.
Never-the-less if you want a “lay down misere” this company is as close as you will get.
Shorters always seem to be well informed so it’s telling that they’ve bought approximately 65% of the stock since the lows.
I suspect they know the writing is on the wall and time is running out. When it does this company is likely to be many multiples of where it is now.
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