THX mateMy take:Everything hinges on the success or failure of...

"how did you come up with 32m refurbishment costs for plant 2? It was 14m usd around 21.22m aud"

Add up short term emergency funding received from preference shareholder = 13.4 million AUD +3.3M reduction in cash reserves since QR
Getting close to $40M
There's invariably massive cost overruns .
The suits have no idea.
It's like fixing up a vintage Motor vehicle or renovating an old house.
It's only when you start disassembling/stripping/digging that you uncover some nasty, expensive surprises.

SPPs never available to offshore - if you do so its considered issuing securities into that jurisdiction and you then need to comply with the laws and regulations of that country with respect to the issue. No company will ever accept US applicants etc into an SPP because to do so you're then subject to the SEC which you don't want. This is not a strategic move."

I wasn't commenting on the SPP. The announcement states that overseas individual investors are barred from the SPP.It was the institutional placement I discussed. Remember the offer consists of an institutional placement and a SPP. The SEC offers protection to retail investors. Institutions are considered sophisticated investors and outside SEC purview. That's the reason they have nominee companies so they can participate in any capital raising.

"Inthe Equity Raising Presentation a figure of $A22m was disclosed as TaurusBridge facility and/or Plant 1 Refurbishment. That is not necessarily the finalamount for the refurbishment, which I guess could be revised up or down dependingupon how things go. It is probably impossible to estimate with accuracy whatthe final cost will be until the exercise is in progress. Unless I have missedsomething your figure of $50m seems far too high."

See my reply to old folk above
My former boss used repeat this ad nauseum " A continuous processing plant is a continuous maintenance plant"
Any slacking off in regular maintenance leads to astronomical remediation costs down the track.
A CPP is exactly that. Its designed to have a continuous pressurised flow of material except for short scheduled maintenance shutdowns.
When you idle the plant it leads to things going haywire
While they don't have the problem of sand ingress that bedevilled us in the ME I hear they have fierce tropical storms in Thailand.
That can force a lot of silt into the plant &machinery.
RUST RUST and more rust
My tip: After the experience with Plant #2, Plant #1 will be scrapped.

THX mate

My take:

Everything hinges on the success or failure of the SPP
Success is defined as being heavily oversubscribed.
SPP will only succeed if KCN pulls a large rabbit out of their hat.
I cannot believe they've undergone 6 years of trauma for the pittance of a quartz lease.
If SPP fails, KCN will pay off all creditors with the proceeds of the placement , walk away from Chatree and call for the tribunal award.
When does the SPP close? APRIL 24 right in the throes of the Thai election campaign.
This is an intricately planned operation.
It's been designed by a mad daredevil Machiavellian genius