The whole project only costs $20m which could almost be funded...

The whole project only costs $20m which could almost be funded out of cash on hand, and given it had a six month payback or makes $40m a year I've no doubt they could pull the trigger today and get it done. Especially if downside protection is installed. That said, they need to advance engineering through detailed design and do you remember the schedule for when that's due to be completed and have they given timing for FID?

I hear what you're saying, but we're not invested in tiger because we're risk intolerant. Presuming their incremental ASIC is marginal, then this adds 50% to FCC, so my view is that this is something they should do and fast. Even if it's debt. But again, I hear your point.