MCC is not just the Construction contractor. They are also Cleantec's Engineering and Procurement contractor. You know, the potential EPC contractor.
According to the partnership announcement, FEED starts in Q4 2018, i.e. next month. Almost certainly, MCC will be involved in FEED if they are to sign off on the design for the EPC contract. So MCC's involvement is imminent and very relevant. That, my friend, is fact, not BS. 18 months away? Pfft.
MCC's involvement in financing - I've been giving this some thought. Without participating in the equity financing, MCC remains as Cleantec's competition in the nickel/cobalt sector. Why would Cleantec invite a competitor into their laterite bed? The only way MCC remains impartial/neutral is to have a big stake in the outcome of the project and to ensure it's success. For my money, their (substantial) involvement in the equity finance "package" is a lay down misere. This will be the first step to take majority ownership of the Sunrise project, if not Cleantec. Is this a good thing? - as I've said previously, working with the Chinese almost always end in tears, so I think not. Look forward to seeing how this develops of the next six months.
CLQ Price at posting:
51.5¢ Sentiment: Sell Disclosure: Not Held
