Ann: Cabinda Phosphate Fertilizer Project Funding Update, page-388

Dilution has already occurred, more on the way.
The easiest thing to have done was to seek a debt facility for all, they would have had the funding constructed the plant and have production underway.
Yes chuk do the figures, pay back the debt in next to no time?
The company stutters to the starting blocks, numerous credit raises, a loan here, a begging bowl there.
Management sadly lacking no business acumen, project milestones have gone out the window.
Inflation running at over 30% in Angola, so construction costs will have gone through the roof, that means more cost.