I'm hoping the CSI takes a direct 10% stake in the GWP rather than shares in ADN. After all we need funding for GWP and should not give away all of the upside in HPA, carbon nanotubes etc. I don't know where cement & zircon would fit in. I assume the CSI would have a vested interest in seeing the project launched successfully so it has access to product probably sourced from Ukraine. So CSI could be Traxys or Ibero Clays. It's just a matter of what ADN & its advisors can negotiate. 0.3 x pre-tax NPV would be great. Even 0.2x would be a good outcome for shareholders.
Let's see.
ADN Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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