Clearly there is some level of demand judging by the recent BOAs. However this reduction in output still seems to be quite a dramatic pivot from what we have been hearing in recent media releases regarding product demand.
Perhaps even with a fully subscribed 150ktpa output we are still unable to obtain appropriate funding? I imagine they would be quite frightened (perhaps rightfully so) that any significant CR would collapse the share price and so the next best alternative is a smaller plant with a more modest funding requirement?
This decision certainly required more explanation than what can be gleaned from a couple paragraphs in the middle of a separate announcement and I hope they realise this now.
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