now, pretty much everything you said here makes perfect sense. It was a year ago when we were over $300m cap, but they did it well to push us below just to get the 10% placement. Games are always played, but I’m very confident that the combination of NAIF, EFA, K-sure (and most likely some other foreign agencies), GM, POSCO and LG funding will be attractive enough for the remaining funds to find their way to QPM. If the project fails, equity partners lose their money (many would say that it’s nothing for them, which I strongly disagree as they also need to justify their decisions to their shareholders and companies like them are just not throwing money away), so it makes sense that they will dig deeper and contribute more. These 3 currently own 20% of QPM, so there’s still some skin in the game available.
I had a chat with SG some time ago and reminded him on the (SRL) issue that a long delay in financing and FID can be very damaging. He reassured me that they are doing everything possible to have FID to follow DFS within a few months.
Lets hope we won’t end up like some others.
As SG likes to say - what QPM has achieved so far is unheard of (in a very positive sense).
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