so! The deal was made in February 2019. The March Quarterly...

so!

The deal was made in February 2019. The March Quarterly report said that the deal would close by the end of 3Q 2019.

Still on track in the June quarterly report.

The September quarterly report is above. It seems to be saying that FLC has done the work that would have the revenue and profit contribution recognised in the 4th qtr. The unstated bit is that final agreement is needed to see that work move from inventory to profit and loss. It also implies that the deal itself was not in jeopardy.

There would appear to be at least 4 parties to the agreement; FLC, Ivory Coast Government, Israel Development Bank and the Israel Export Insurance Corp.

Why hasn't the deal closed? One can only guess!
Me?
I don't buy the Israeli political shenanigans! My guess is that the the issue is in Ivory Coast. There is going to be an election in Ivory Coast next year and, I suspect, the financiers need assurances from all parties to that election that they will not nationalise the plant and will pay the debts when due. President Ouattara's rivals may not be inclined to provide that assurance because the project could then be triumphed, in the pre-election campaigning, as a win for Ouattara.

I feel the cold winds!!
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