Agreed, the market is looking for certainty around funding. I'm also not very clear on how the first 6 Infra projects will be funded. However, even assuming project equity funding for each project (thereby diluting earnings to DEL), the stock is still tremendously under-valued at a $29mn market cap. SA1 alone is approximately equal to the current market cap!
Would be a shame to see DEL bought out at any share price below 30c (of course - even 30c downplays DEL's long-term potential).
Ann: Share Purchase Plan Raises $1.63m, page-24
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