The great thing about Vulcan is that it combines many projects...

The great thing about Vulcan is that it combines many projects and disciplines into one. As mentioned by the company, it acts like an oil and gas company, but it is also a chemical company. As we know the equity to debt is 35,65. The debt we know will come from both government and private probably more government guaranteed or grants than private, but they will be in the mix. The equity component is interesting as we know that a special vehicle will be created to house the equity component will be created into which various contributors will have their equity . This could come from a number of sources, like the offtake contracts already in place with various companies, from an oil and gas company, and ,or from a chemical company. so it is fascinating to do some detective work and to see the history of how the old companies developed the chemical and oil and gas projects over the years, and how some of them have split their companies and change direction.

The great advantage of the project is that it lies where there is outstanding know how in every respect This is just the project that Germans are good at and like to do. To us, Aussies, it appears complex and complicated but to Germans they believe every hurdle can be overcome, a completely different mindset It is a very good unifier of many disciplines into one.

I think there will be lots of choices and companies, pulling their hands up with more than enough money to secure project, but I could be wrong.

My detective work leads may to think that BASF May play part in the financing of the equity. I may be going down a rabbit hole, but for those who do not know BASF. it is domiciled in Lud wigshafen in the middle of our tenements in the Pfalz.It is a massive conglomerate, represented in most segments of the market. It is the number one chemical manufacturer in the world, highly ranked in chemical construction, rated in the top 50 oil and gas companies in Germany and a huge battery maker.

The Pfalz is a warm corner in Germany and produces a huge number of the agricultural products consumed throughout Germany. BASF over the years is completely in tune with the farmers with the products. The soil types, water they know better than anyone else. they are situated there not by accident but by involvement from earlier times.
I am sure that the involvement with the district hot water distribution also fit well with them. for me, this project has a little bit in it for everyone your high growth industries, but also the distribution of heat through the hot water system, although at lower profit is a project that a big company like BASF would like to be involved in as it is tied to the community

For me, this project fits all the criteria for BASF to take it on, and if they don’t it means someone is sleeping at the wheel and taking their livelihood away from them. They employ 111,000 people all living close by in the Pfalz their image in the last period of time is one of old established industry, and they have a chance to nail plate to a new industry and give their image an uplift.
Vulcan, when it has been derisked is a potential takeover target from BASF.
Let’s see if they take up any equity in the company.

I may be going down to rabbit hole, but let’s wait and see