A good honest interview, but nothing we didn't know. This is how...

A good honest interview, but nothing we didn't know. This is how I see it.

1 No foreseeable technical issues. Never expected that there would be.
2 Too much emphasis on current world conditions, not enough on the medium to long term future. Big money investors will be looking ahead 20 years plus.
3 The main issues (particularly for shareholder value) are financial, project schedule slippage and the need for upward surprises.
4 He has set the scene for large quarterly expenditure and CRs by mentioning the high expense of pre FID undertakings. That suggests to me that the pre FID funding by the end of the Sept quarter is imperative.
5 Some large potential investors want to see the FID before investing. He said that this is difficult because he needs the commitment before the FID is announced. Fair enough.
6 He will keep updating the shareholders on progress. Lets hope for an upward surprise or two.
7 It would appear, as we thought, that the overall cost of the project will exceed that of the PFS estimate. By how much, it will be interesting to see.

While this interview is informative, I don't think there is enough in it to excite the market. IMO only. J L.