Howdy @hicks58, I agree the SP will turn around at some point...

Howdy @hicks58, I agree the SP will turn around at some point and I'm seeing this as an opportunity to accumulate more. I've already said I've had my fill several times now and keep on going back for more.

Whichever way we fund construction, VR8 is (for me) one of those rare projects where annual returns could be similar to or greater than our original investment. I don't know of any other projects at this stage of their lifecycle with such potential upside (if anyone has any that they are tracking I'd appreciate the tip so I can look into them a bit more).

BEE was the project partners under SA Black Economic Empowerment policy. Following recent project share increase their component drops to 13.5%.

For the free cash flow, I've been a bit conservative in my simple calcs based on the following figure from the DFS. I suppose we could be cashflow positive after Yr 4 and possibly earlier if we sold a stake in the project and didn't have to pay that back.



I think I've talked myself into buying more today.