Survival of the Fittest, page-62

I must be one of the largest holder in STX that constantly sound like such a wet blanket - but your statement is somewhat untrue. If CB turns out to be non-commercial, STX could quite easily (and most likely will) be smashed right into the walls into smithereens (using your analogy). Right now, it is progressing well but until such time it is actually proven commercial, we have to price the risk of some unknown unknowns throwing a terminal curveball at us. Hence, the project is still risked at 50% COS in my model rather than any higher. It has come a long way from 10% at the beginning but still a fair way to go till 70% when it is declared commercial.

Note: Nothing is ever at 100% due to production risk, and I usually allocate 20% for risk associated with development phase of a project. So it is producing, it will be at 90%.

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