There is nothing that indicates that ground has been broken on construction.
You're damn right I hold CCE accountable for the delay. Regardless of it was too much on their own plate or red tape that was the cause. If you make a claim to investors that a project will be delivered and generating revenue within 6 months of taking their money and then don't even start the project until after its meant to be finished (now telling us it'll be finished a year later after having to arrange project finance!) you owe those investors a explanation.
Its a shot in the foot because when the next cap raising comes through, many investors will think twice about contributing.
The Lendlease joint venture is an EPC (engineering, procurement and construction) JV, there is no indication that Lendlease will provide any equity investment in projects. Even if CCE find another (or the same) aboriginal corporation to be co equity investors with , they'll still need to come up with their half of the funds for the project.
CCE Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
