The effect of this announcement is interesting, in that it appears to have achieved the opposite of its intent which was to reassure the market.
A slight delay is confirmation of arrival, not the interpreted may not arrive.
Looking back at the IC project, delays are normal, but delivery does come through. I recall the angst over securing the deal, then again over financial close. Yet here it is again, despite both of these previous steps coming up roses. Perhaps the learning should be, projects that involve the IC government, Israeli discount bank and the Israeli export credit agency are often delayed by the signatory process, as stated by FLC in this case.
Fear is understandable as the receipt of the cash is vital to cash flow, but the probability is the money will come slightly later than planned.
Slightly is one of those strange english words describing a place somewhere between miniscule and minor, so will be surprised if the cash is not in the till by end of month
FLC Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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