should mhm change its business model in the us, page-31

Agree with all your points Twincreeks except the one regarding not using debt to finance a smaller plant if thats the way they decide to go. I would prefer in the current financial environment to have a lower shareprice and them debt finance the plant for a couple of reasons.
1) if they raise at prices anywhere around this level I think almost all shareholders would be dissappointed. I know I would be.
2) financing is so cheap in the US. I would rather be using someones elses money to finance our expansion than use our own. With financial markets so shaky you could find that lending freezes if Greece was to default meaning we cannot borrow. By financing the plant now it means we have cash in the bank for further expansion down the line and if the plant does produce a Gross Income equal to the amount financed then we will be seen as a low risk and more likely to secure finance further down the line.
Personally I would prefer they build a 250ktpa plant but time will tell which way they decide to go!