To me the risk levels goes: HX completion, then HX demo, CAT binding is more like a bonus rather than make or break, so much have been achieved by Fastbrick without CAT in the past 3 quarters.
$35m raising demonstrate FBR's ability to get things moving without CAT's help, I also think there hasn't been much going from CAT except they agreed to talk about things, that's what MoU is all about isn't it, we agree to talk about things.
The more FBR can achieve without CAT the better will be when it comes to binding negotiation, plenty big names out there would want a piece of this if CAT walks, FBR has HX, CAT doesn't, if it works CAT would be crazy not to go on. If HX doesn't work, CAT is not to blame in the share market either.
It's reasonable to assume CAT would ride on, but hey, at the end of the day it's not up to CAT to determine the success of FBR, they are just a partner FBR wished to share the cake, or someone else, fate is in their own hands.
Lot of things have changed since July 2017...need to look forward too.
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