The trajectory of the share price and hence the wealth of...

The trajectory of the share price and hence the wealth of present owners of the project shows that future funders be they debt and or equity require a larger economic interest in the value of the producing asset at the expense of present owners. The value of equity as traded on the market reflects the leverage of present owners viz a viz future funders required to be enticed to allocate funds to a projects. Note the absence of a trade buyer or cornerstone investor. Same with PEK. Note LYC attracted the Japanese. EOC same. So while stocks can inflate, they wil deflate when reality sets in ie what I outlined above - no compelling economics to develop the project. Case in point SFR producing and attracted POSCO and also see EXT taken over.