Hey Red,
I respect your posts and research but need to disagree with your point on Carrinho not signing as they want more. It is critical for MNB to get the MOU converted to meet the CP, so it is critical they get this signed on phase 1 numbers now, and let the other dominoes fall into place accordingly. A second contract for increased capacity is fine, and can be negotiated while finance boxes etc being ticked. The longer it takes to get this MOU converted the more risks that remain.
Imagine signing phase 1 MOU, risk greatly reduced, market reacts accordingly, SP rises while banks and investors gain more confidence for further lending/investing etc. The stock would return to being exciting and management regain some cred's, all the while negotiations for phase 2 sales continue with a rising SP.
Anyway, I guess I am stuck on the MOU being the most important thing here to allow confidence to return and other boxes/CP's to be met.
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