Yes but isn't that the problem with KINs initial plan and what...

Yes but isn't that the problem with KINs initial plan and what current management are saying. GCY borrowed twice as much for the build which reflects a more accurate cost than KINs figures plus they still needed to raise more to keep the show on the road. All current management are doing is making sure it all adds up before getting to a stage where they need to raise additional funds to bail themselves out or go into receivership. More of a do it now rather than later scenario as the impact is less severe. Having to double down and raise circa $40-50mill to bail it out 3/4 of the way in doesn't seem viable to me and would guarantee the white flag is raised.

You say sproule's build was fully underwritten but really it's not. It's only if it came in on budget and the only way anyone seems to come in on budget is if they borrow twice as much as they think they need.