Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-207

Re; Japan and Korea

It is worth noting both of these countries import less than 1.8mtpa. AEV's 600ktpa DSO target would present >33% of total imports for either country. Even if we halve it to spread it evenly across both countries, >16.5% seems high to me in terms of either new demand and/or displacing existing suppliers.

http://aeep.eu/data-and-statistics/

If anyone has a alternative source for this data, it may be a beneficial exercise to compare/contrast.

Worth noting CXM deal with South Korea includes distribution to other countries. This is another pointer on Korea's ability to absorb new product (and yes, I realise the difference in products).


My earlier NPV range $200-400m was predicated upon 600ktpa being reached within 16 months. The production quantity and ramp up remains the greatest risk for me.

All imo