AAM Research Piece, page-31

That is why I mentioned Baikowski, HPA is not an immaterial part of their revenue, and since they were spun off from PSB Industries that is easy to follow if you can read French. It doesn't show in their bottom line.

So it is not Altech management just moving quoted prices to match what they need to make economics work, and to entice retail investors financing the project piecemeal because they simply cannot get it financed albeight the future is so bright we need to wear shades? Okay.

So, next piece would be understanding at what price these producers would expand capacity (that they historically built at vastly lower HPA prices - I assume they needed positive economics to come to FID then too), to understand what kind of prices would be sustainable. One would have thought that one of these companies would have made more sense than a small opague German hedgefund trying to hawk off the exposure to retail, and they would have jumped at the chance.

I really would like to understand the dynamics here, and why Altech is left to retail to get into production. Doesn't anybody get bothered by the contineous lack of interest by industry and proffesionals if economics are indeed this strong? Wouldn't they know prices soared and about to soar?