RE:RE:RE:RE:RE:flor jvSo their first choice is a JV, with 700M value...so 10% for 70M.
That 70M will be fully recovered in less than 3 years by the jv partner....with 18 more years of pure profit!
Go back and LISTEN to the TD analysts question to BB...he was telling him that there should be no financial reason to still be considering a jv at all...the funds are there!! That analyst WANTED BB to come out strong and say TKO was keeping all of FLO!!...no jv.
Maybe 6 months ago a jv might have been a good thing, even necessary...not now!
Flo is green, in the US, very low capital cost, very low production cost, finished product...no 0.30/lb refining costs, $4 + coppert, land can be used after for anything.....this is exactly the type of project that should be kept 100% for shareholders.
They have never given a REAL reason for wanting a dilutive jv...they do not need to borrow any $$. There is no way the approval comes until second half earliest, by then Gib has another 100M to bank. And in any case you NEVER need 100% of funds before const can start.
This shows pitiful valuation to our assets by management....