FLC fluence corporation limited

Ann: Appendix 4E - Preliminary Final Report, page-7

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    This is from the Q4 Business Update:

    "Under either scenario it is expected that the Company will not recover all of the costs which have been capitalized to date. Accordingly, the Company has adopted a conservative position to write down the carrying value of the San Quintin related assets by $11.8million as at 31 December 2020.The decision to not proceed with the project is expected to be cash flow positive for the Company due to the anticipated repayment to Fluence of approximately $3 million of security deposit."

    So it looks like we'll get back at least $3M and may be able to recover more, but not all the cost involved with SQ. At least we'll be able to draw a line under that particular albatross.
 
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