Broadly my thinking on the scenarios.
After this cashflow debacle, my money is firmly on your second case which is JP refusing to slow down, or consider other funding structures, and diluting us into oblivion. That he was prepared to sell equity at at 20% discount at these depressed levels, but not prepared to sell part of the project (which are still getting many multiples higher than equities are valuing them) tells me he has ZERO clue about capital markets, and ZERO clue about project development.
Broadly my thinking on the scenarios. After this cashflow...
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