It would have been good if VUL had specified exactly what the debt was. Some here are making it out to be something sinister. It could just be outstanding staff salaries, building rent and some equipment for the last three months.
Ten geo’s wouldn’t be cheap. In Australia right now, any major mining company would jump at a chance to get ten geo’s on their books for the amount it will cost VUL. There is a global skills shortage, and recruitment fees are high.
Ann: Acquisition of world-leading geothermal team, page-80
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