Alcoa Presentation 18th January, page-7

it went into freefall when we did a supposedly bad deal and gave away 65% to partner with the best alumina company in the world.

if alcoa walk and we revert to 100% then roly and the others will obviously all get promptly fired. maybe a new management and board and 100% of the project is pretty bullish! it may even be worth more than $50M!

if alcoa walk, that says something about the entire HPA industry. we are the most advanced HPA hopeful of scale with the best partner. if we cant make it work, thats a big problem for all the others as well. it won't go unnoticed by investors in the sector.