POSCO might think theyve done well to pick up equity in BKT at bargain basement prices by waiting for as long as possible to go ahead. But i wonder if this will be a good thing for the project as a whole after the SP has been left to crash by this 2 year delay, thus giving BKT the tricky job of raising the final capex tranche needed to proceed with FID? It wont be easy to find the last US$50m, even via the additional investor route. Aguably, POSCO have just made rods for their own backs, and everyone else's too. A stupid decision, I'd say, if they just wanted graphite production to start asap to meet their needs.
all imho, dyor
BKT Price at posting:
5.4¢ Sentiment: None Disclosure: Held
