It's clear to me you don't know what you're talking about.
The feasibility study for the mine and concentrator is still separate from the study for the refinery. The project was always supposed to be integrated, and I don't know where you've gotten the idea that the mine won't be started construction first. That hasn't been said anywhere.
Page 5 of the latest quarterly refutes most of what you have said, including that the mine feasibility and refinery studies are both due this year, not the middle of next year.
https://wcsecure.weblink.com.au/clients/kidman/headline.aspx?headlineid=3497038
As does slide 11 of the corporate presentation:
http://kidmanresources.com.au/live/wp-content/uploads/2018/06/KDR-Overview_dbAccess-Asia_vFINAL.pdf
The studies to be completed next year are the baseline studies for government permitting, and the mine is definitely still supposed to be built by the end of next year.
SQM are still committed to providing most of the capital required to build the mine, and KDR will have plenty of time between building the mine and the refinery to sort out the finance, particularly if it involves offtake customers.
So, no. That is not why the stock has been dropping. If it is, then this is a screaming buy, because that is just completely misinformed.
