If there is nothing materially different to say, what are management going to say?
off takes will move the dial when they become binding. It’s fair to say management are doing things a different way - by that I mean that other companies will lock in binding offtakes, and use those to increase the SP for dilution for the build. Management have secured debt at a great interest rate IMO.
yup there were no bonds as planned (Pareto) - got that. No binding off takes yet, got that too. No full EPC contract confirmation of conformation that containers are on the water as of yet - fully understand that. However, Civil contracts have been signed and updates on civils are coming through via Twitter - good to see, all companion equity is in place and in the Tanzanian accounts.
as the months roll on so too will progress, the market will continue to tighten I believe and the off takes will come.
why no re-rate? Don’t know, but I still believe that it will come, and that we will be in production this time next year.
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