"With entire project costing less then the price of a submarine"... LOL, the entire industry costs less than a submarine.
" I'm not obsessing about minor things like being "cashflow positive, how much higher to service and repay large amount of debt, who is going to take the radioactive mon-con and process outside of China".. bully for you, good luck with that strategy. Kallium Lakes Potash isn;t a critical mineral, but it's a dog with the same leg action trying to socialise the losses and capitalise the gains. Kalium might have been a cashflow negative project with shares worth next to nothing before they were suspended months ago, but the board of directors always seem to do Ok with big salaries and consulting rates.
Founder and director in the AFR whinging that wouldn't "convert their debt into Kalium shares as part of a plan to foster Australia’s nascent sulphate of potash industry."... stingy bastards. Turns out, that same director held the contract for salt harvertsing and trucking and was making $5M profit per year even as the mine was cashflow negative... no wonder he's whinging NAIF wouldn;t convert tax payer loan into worthless shares so the project could keep on trucking
Not sure you or other shareholders will do well long term out of any ill-fated guvvie grant that get;s Yangi up, but at least it might provide a price spike to exit on. If Charles can con governments into the grants/funding beyond NAIF and EAF assistance to date, well done him and congrats shareholders. I'm an economic rationalist, but see enough irrational behaviour to not say never. Some rich gu's privately owned a large cotton operation over east was just granted $36M to build a "renewable ammonia and green hydrogen plant" on his property and help save the planet
... funny monet alright but I'm shaking my head.
Good luck
(20min delay)