Ann: Corporate Presentation, page-6

In the Q&A session, he was asked how FYI would engage with Alcoa in the case that 2nd or 3rd HPA plants were built. He said that they would engage on the basis of the same 35%/65% split, under a JV agreement. I think he also suggested that other financing options might then be available to FYI (but didn't elaborate). I was really pleased to hear him talking about FYI's possible involvement in additional HPA plants. Surely that would potentially mean additional EBITDA for FYI and the possibility of higher NPV numbers overall (presumably multiples of the $398m-$484m NPV estimates in today's presentation).

All IMHO, DYOR