What you say makes sense ..... The other consideration is that their investment isnt entirely equity (50/50 debt/equity from what I gather). Wouldnt be uncommon for the project to repay debt (particularly shareholder loans as opposed to bank debt) before making any profit distributions to shareholders.
Question is how long the company can hold out without meaning cash flow, the upcoming quarterly should be an interesting read - hopefully there is some forward looking guidance on timing of expected future receipts.
AVX Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
