Great pick up Brickle. However, the summary from SS Insight is aided by setting the text up a bit for us who are hard at reading. Anyhow, here's my best points from the blurb:
This is substantial and we think the market may have missed that this could be a debt deal as LCK could potentially retain 100% of the project. Also as the contract will be signed by the 31st May 2021 we believe the share price will re-rate once the HoA becomes a binding contract. Clearly, the binding and exclusive nature of the HoA shows how serious DL E&C is to conclude a contract with LCK.
Also, given the size of DL E&C, we can assume that their due diligence of LCK’s urea project has been detailed and comprehensive, so this announcement not only represents a significant de-risking event for LCK, it also shows another instance of third party validation of the urea project technical operations and market economics.
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- Ann: Urea Manufacturing Facility Binding Heads of Agreement
Ann: Urea Manufacturing Facility Binding Heads of Agreement, page-68
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