Correct Quoka,
Malaysia still needs to do the following before they are considered low sovereign risk:
- Update radiation laws
- Reverse ban on Condisoil
- Rescind requirement for new permanent residue disposal facility and associated $100M bribe
- Eliminate caps on concentrate import volumes
- Reverse ban on import of concentrate beyond end of current licence
- Reverse requirement for shutdown of Cracking and Leaching in Malaysia by end of current licence
Of course, none of this is guaranteed while the current Malaysian government majority is tenuous and the composition of the next government is unclear. DoD Heavy funding is great, but we still have no numbers. DoD funding towards KAL production of SEG would be a genuine transformation of company outlook otherwise the capital cost of KAL will be a significant capital burden for a number of years.
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