Did you say the $120 m is a for both projects?? If so, please...

Did you say the $120 m is a for both projects?? If so, please reference this information.

To me that is absurdly low, I am virtually certain the $120m is for the PV project stage 1 only.

Hello fellow engineer. The other consideration is the debt to equity ratio and the equity raise price (or alternatively the reduction in earnings if a % stake is sold for equity). Dilution very quickly erodes earning on an EPS basis, be cautious.