It certainly looks like the books will go into 2021 clean. The...

It certainly looks like the books will go into 2021 clean. The ghosts of San Quintin written off and currency write offs done. FLC under Richard Irving as CEO has every opportunity to produce a welcome result.
Revenue of $145m looks achievable by my estimates
SPS of $45m
Recurring rev BOOT of $10m
CES/ Ivory coast of $90m

IC has currently estimated recognised revenue FY 2020 of $43m, leaving the balance of $153m to come in 21 and 22. In FLC earlier projections they expected revenue flow of $20m, $80m and the balance in the 3rd year.
At this point with all of the engineering design complete, 2021 will be the major construction and fabrication of plant period, so I expect a larger spend of the remaining $153m pie, so have used the mid point of the $80m to $100m range.
Of note is the cashflow surplus, with $60m cash received v the $43m recognised as revenue in 2020.
(The $43m is a maximum as it is calculated by adding ALL of the CES gain in the interim annual report to the $34m in the half yearly)

There is a strong lead on the other loss (6.133m) in the interim report June 2020. Exchange loss of $2.48m looks to have grown. But it is a legitimate factor when calculating EBITDA



Recurring revenue, should be bolstered by the scheduled completion of Peru project in 2021, expected to be $3m/12 months