They are now wanting to sell 40% to one or two investors.
The investors will want to know what the current capex estimate and valuation is now?
I'd expect the project to be more highly valued now, and requiring more capex to build.
Let's take a stab and say two investors put in $300 million each.
I'd also hope the next announcement certifies the engineering drawings to now be 100% complete, and gives shareholders an idea as to whether they are intending to also build a small pilot plant or demonstration plant to verify the success of the project.
Goldman Sachs have now started the process of looking for investors, from the 1st of May, so we might have a report on how this is going by the 30th of June hopefully.
Gw
INR Price at posting:
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