Hi Christem, a well considered post, congrats. Couple of...

Hi Christem, a well considered post, congrats.
Couple of thoughts.
1. Finance. With FSE/WCC defaulting on the USD 37 million loan from Standard bank, I think the chances of SA banks funding another Waterberg project are slim.

2. The power from the IPP has to be sold to Eskom via a tender process, the first phase of tendering is about 12 months late with no sight of the second phase being called for.

3, TFR supply rail ransport to Richards Bay, the Coal Terminal is owned by a group of shareholders who own and use the allocations, negotiations would be required with the RBCT shareholders. however , given the current price of Thermal coal for export, plus the additional railage cost from Waterberg to RBCT compared to Witbank, makes export of coal a non starter.

maybe the 1 year should be 11 years?