Overall it is not a bad presentation. There is a reasonably simple problem, scale, with a pretty simple solution. The solution has been proved at Odin-1 so should transfer well to Odin-2. Vali is less certain but could be scale also.
Vintage have already said that, if the entitlement is not fully subscribed, they will prioritise the ""highest impact works" which I take to mean Odin-2 and some working capital. That would suit MEL/Glennon and Bridgeport also. I think they would both fund Odin-2 works with any further works dependent on O-2 results.
As @Redbill1952 said on another VEN thread VEN don't have many options if the entitlement isn't supported. On the flipside if VEN can get the results they are aiming for it could be a turning point for the JV. ( a risky turning point....) I guess it comes down to whether VEN SH's trust the board enough to give them one last go at it.
VEN Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)