Management has already confirmed Stage 1 only to start with, which people keep forgetting was upsized at the request of GM, so it's bigger by a factor of 1.7, or was it 2.7 times (?) anyway (I don't have my data in front of me). GM participation, and the reason for financial involvement was specifically because they wanted MORE product. GM deal took 9 months and lots of government involvement, that's all I will say about that. Regarding dilution and capex blend debt/equity, my view is there definitely will be equity, so there will be dilution (minimal in my view), BUT equity will be targeted to strategic investors, and by that I don't mean 'sophisticated' I mean long term strategic partners like, SMT, GM, QIC, etc. I'm in US again, just got back to hotel after dinner, and not checking HC much, but wanted to chime in before I go to bed. Some good, and bad, banter here, but anyone who has done this for a while can summarise it up as continued uncertainty is the major factor impacting SP, that's all. My view has not changed, you can beat the stock up as much as you want here, but medium/long term, I have very little concerns. DYOR & GLTAH
QPM Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
