Rockist, a few points, taken from the 12 months financial reports and AR:
1. Dairi Prima tariff - USD 170/MWh plus carbon credits
2. DP - 51% to PAX expected DP capex (p21 of the 2012 Annual Report) - $24.8 for 100% of the project.
Equity requirement as stated (again, for 100% of project) stated at $5.8m (with total debt of $26.8m).
51% of $5.8m = $3m.
Question is how they can raise even that trifling amount when the share prices lies in the sewer.....
Does the capex understate what will be required - time will tell.
I guess we'll see soon whether KP is actually any good - certainly the latest financing deal isn't (on what we know and have seen) much good for existing shareholders?
Clearly the market has lost (all) faith that the deal can be done.....but markets do that sometimes......inordinate time 'delays' never help!
PAX Price at posting:
0.2¢ Sentiment: None Disclosure: Held
