Not trying to dis-credit or anything. But thats a pretty weak argument against KNL.
I don't have time to state my full reasoning, but everyone does their own analysis. In short, financing is a complicated task, banks change their goal posts all the time. Its like the old saying 'they say jump we say how high'. They hold all the cards. As long as Kfw has not bailed (which by the most recent announcement they are still part of the conversations between KNL and Tanzania), everything should still be progressing.
I like to also note that I will sell KNL if some red flags show. These are my flags, not a universal one everyone should use.
But just want to point out the reasons you listed would not convince me regarding finance will not be approved.
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