Absolutely logical Canuck81. Any business as large as Alcoa would condition a development project in the way that they have and where it can be sensible to do so stage the funding in a way which preserves and protects their capital. Those investors who have abandoned the ship would probably be the same investors (if they held Alcoa shares) would criticise Alcoa if it did not protect its outlay against the possibility of failure no matter how remote that possibility may be. In business dealings like this you must not be myopic you must look at the agreement from both sides of the fence. I got in early enough to not be concerned anyway but that binding agreement looked perfectly logical to me.
FYI Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
