The main issue with all the delays in my opinion is the Chinese oem.
The US govt with the US DFC are backing Phase 2 and that's projected managed by Worley and with Tier One OEM's like Linde Air Products or the like..
The need for helium hasn't changed and sources from Qatar Algeria and Russia can't be relied upon from a US perspective in my opinion meaning the US need Renergens phase 2 project online in a timely fashion.
Also who knows the geopolitics at play in the background china v usa etc..
Anyway Phase one delays have been frustrating but a small additional loan from the US DFC for instance to cover delays from the chinese oem (small pilot plant with Phase 2 x14 the scale) they approved of is a drop in the ocean in the bigger picture here I think. I recall Phase One had been "refinanced" so maybe ready access to additional funds if needed as part of that.
A further R450m for the other 4.5% of Tetra4 would be great after the original 5.5% back around Feb. This R450m maybe ideally be closer to a nasdaq listing for further precedence on valuation.
RLT Price at posting:
75.0¢ Sentiment: None Disclosure: Held
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