they would have made a firesale valuation on the project, and concluded that it makes good collateral on their $180m offer.
what does this value the undeveloped project at?
a great deal more than the $6m purchase price, i bet.
in which case, the big question is what have the banks deemed the current speculative value of the company?
they would have made a firesale valuation on the project, and...
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