RE:RE:RE:RE:CapEx Yes they have increase book value in a very impressive way and the assets have stand alone value. In my mind this mitigates much of the downside risk. But as you pointed out, short of an actual liquidation, the upside is going to be driven by fcf generation, which is why I found the capex somewhat alarming. But it does seem as though they are reaching scale and with these contracts in place the results should be excellent.
cheers