You're not getting the point.
We're not saying the project costs $90m.
We're saying the terms/scenario under which the loans were approved must be so pessimistic that the bank calculated a close to $90m potential peak funding requirement - and won't give the $50m until it has been raised. (Our speculation only)
This is just a logical conclusion that can be drawn from the scraps of information that we've been given. The company obviously doesn't think it is in our best interests to clear the matter up.
Hope I'm wrong or they've found a work around. Market seems to think that's close to the mark though.
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