wheres the finance ??, page-50

The downside of proceeding with construction when there are insufficient funds to finish it is that the installed assets have limited value as a security. Any lender coming in now would be hugely expensive. Plus, the chance of recovering anything in the case of default is low, given the location. A bank can not recover anything from a partly built tails dam, a few cleared pads and an accomodation village.

The bank would need to be satisfied with completion risks and a heavy weighting would be put on the geopolitical factors and how other comparable companies have fared.