Thanks Jvest - yet more “suggested evidence” that points to focus of this update is for Germans. Maybe royalties left out to suggest SMS/TNG confident of paying back from just mining revenues? Or this would be in stage 2 as the everyone needs to see one Tivan plant working successfully first so any Tivan royalty figures may not be taken seriously at this stage. No mention of revenue from silica either.
What I don’t get is how much risk has been taken off by this revision (not in finance so don’t know what German banks would consider significant amount of risk removal??) for banks to open their wallet. Even if pb/sms are confident, are the financiers now confident too? I’m almost in your support of when not if but just not completely in that camp yet.
Your comment on realism- does anyone in finance measure NPV after granting $$? The use of 10-12% is interesting and def for the finance folks but business cases also normally contain a lot of conservative figures any way. So am curious to know if inclusion of these additional projections will satisfy exim (others?) or not.
Another significant announcement before agm would help the custard pies staying away from the room
