hereandthere, I here what your saying and in a glass is half full way you could be right. However its unlikely.
Any Joint venture on this project will dilute EPS. Considering they intended the project to pay itself off rather quickly I don't think the issue was ever funding affecting their under lying business. Therefore I won't see much need to look at any other proposals other then the banks said no.
However Fundermentally your correct it is possible.
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