And there are still people that think offtake is possible. Roly tells you in the first page today where FYI are at as a company - "The involvement of Alcoa will help to transform the HPA project from the current R&D and design stage to reality."
Why didn't Alcoa sign the incorporated JV straight away? It's not until phase 3 do you get a proper JV agreement.
After today, all that FYI has is a binding term sheet that says Alcoa will pay for the pilot plant to be turned on in phase one. Everything else stated in the agreement is in stages 2 and 3, which may or may not happen. That is why the share price is heading south.
And yet, everyone falls in behind Roly as if he's the pied piper. You lot are brutally loyal.
FYI Price at posting:
54.5¢ Sentiment: None Disclosure: Not Held
