They had to announce this because of the ASX query in relation to the share price increase on the 19th.
This is huge and we should see a rally in share price on the back of this news.
We know through the USEXIM finance that Bechtel and other US companies will undertake the FEED and be involved in construction and supply of critical infrastructure.
EDC similar to USEXIM provides support to Canadian businesses that have international growth prospects. To me this says that a Canadian company is more than likely reliant on Dubbo oxides in an offtake capacity, hence the basis of the internal application approval to date.
If USEXIM is any guide we should see a determination in the next 1-2 weeks. EDC have $3B to play with plus other sources of funding so depending on the critical importance to Canada this could be from $50m - $500m. If it is on the higher spectrum then the share price should theoretically explode as that minimises dilution through a huge equity capital raise.
Surely a $1.20 finish today.
Response in ASX query
Todays announcement
ASM Price at posting:
$1.01 Sentiment: Buy Disclosure: 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)