Hi ThedreamThank you for your replay. I understand your...

Hi Thedream

Thank you for your replay. I understand your explanation very well. But i did consider, that IBG got from US Exim Bank an offer of a preliminary project letter to offering a USD 657 Mio dept funding. I can‘t remember at all time as long i follow projects from EXIM that they make a initial preliminary offering and afterwards they cancel that. That never happens in my opinion. So for me its pretty clear, that they will get the funding from EXIM. Thats why i only reduced the risk / chance reward of 40%. And thats still a big number. As MJ told in the interview he sees much more chances then risks at the actual project status. So i did consider this „small“ risk not to get the debt funding from EXIM. But of course this will be the key for sucess. But if the financinng is done we can calculate even different. Then we would be at a Post-tax NPV of about USD 1‘476 Mio. This number in relation to the actual MC of AUD 65.36 Mio would be a fair value of the share would be far higher then AUD 1.125 per share without the exchange consideration USD to AUD.

Best greetings akpa14