What I'd like to know from anyone who's followed this from the beginning is how the WICET obligation chrysalises out on admin. The actual contract becomes null, but I think it converts into a lump sum debt. I'd be interested to know what that debt is. My guess is that it's more than they have in the bank, but how much more?
I don't think WICET will want to give much away, because they are having cost issues with their contractors. With seven other owners/users, I don't think wiping out BND will wipe them out. My read is that they will only show flexibility to BND if it helps their bottom line, and that would only happen if BND teed up funding to go into production. Otherwise I reckon they'll go for the last cent, which would not be good for us.
BND Price at posting:
8.4¢ Sentiment: None Disclosure: Held
