Ann: Bankable Feasibility Study Activity Slowed, page-174

I think you could be missing the magnitude of this announcement.

They have high level financing advisors from Citi who run models on the projects and stress test them. For them to announce this it means the advisors have identified a major financial flaw, (likely huge interest payments significantly lowering the companies free cash flow and pushed their ability to service the hypothetical debts into the red where less banks are willing to provide finance and at a higher rate due to default risk.

That's not to say it will never be built, but it would be significantly revised to minimise Capex (no more 20Mtpa), likely include more equity financing that planned and result in a very different NPV than whats been floating around.




*Just the opinion of someone who works in finance, DYOR