No, Hyundai’s role for now is to provide an EPCD (Engineering, Procurement, Construction Definition). This is somehow like providing an open book cost schedules for the project. EPCD is not building the mine. After EPCD is done they can put forward an offer to build the mine (EPC), which I suspect will take sometime. After EPCD, ASM will probably issue a tender to a few companies that should take at least 6 months to be finalised.
Financing should be done after EPCD and before EPC tender.
ASM Price at posting:
$2.42 Sentiment: Hold Disclosure: Held
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