Unfortunately it’s a process you need to let it process I agree that INR probably knew possible outcomes previously to them happening but that just means they were even more stuck on the DOE process they had chosen .
Think logically about it if they cut ties with SS prior to submitting the DOE loan application it would have gotten dismissed instantly so the application was made and conditional approval was granted . During the vetting process DOE would have investigated SS to make sure they were good for it this was ticked off and then the process closed .
After the fact SS had pulled out we can speculate till the cows come home on whether there was any hint of collusion or other impropriety but ultimately the DOE rules and loan contract apply and ultimately they apply to the DOEs core functions when it comes to debt funding and that is promoting energy based projects under their mission statement not profit of debt funding , don’t forget DOE-LPO is not a bank .
If INR was to engage a 3rd party now DOE is well within their right to cancel the debt funding and pull out again all part of the contract .
Make of it what you will it’s clearly set in stone DOE are our ticket unless INR want to walk away .
Regards TT
INR Price at posting:
14.3¢ Sentiment: None Disclosure: Held
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