a sound risk management approach, page-3

Good post Ben.

As the plant has very little, if any salvage value, it will be hard for APG to arrange any significant debt facility at reasonable terms.

As my conspiracy theory goes, the intention of the Kronos court case is not to win but to make funding difficult (whether debt or capital raising). Any hiccup in the commissioning or production phase may stall the whole project and push APG into insolvency and Kronos, the "white knight" will casually ride up in shiny armour and rape us all.

I sure hope the court case will be thrown out of court and APG awarded $10M for the trouble Kronos caused.

Perhaps we need a strong backer like the Chinese Zircon company to manage this risk.