Investor Presentaiton
Project Cost Change
Category
EPC
Additional Constuction
Start-up
Development
Other
Change in Price from 11/24/10
Model to Current Model
83.6
11.5
4.0
7.2
(20.5)
3.3
Contingency*
CAPEX before Financing Fees and IDC
$88.9
Summary of Changes
EPC cost increase was due largely from FX and commodities
Costs updated based on ongoing EPC negotiations
Additional equipment required and updated operating costs
Development budget increased due to environmental scope changes and
additional passage of time
Debt Service Reserve Fund no longer funded by cash
Increase due to increase in EPC costs. Sized as 5% of EPC and Access Road
costs
Interest During Construction
36.8
Total loan amount and interest rate increased
Lenders' Fees and Advisory Costs
6.8
Debt Political Risk Insurance
17.1
CDB loan amount and Sinosure rate increased
Financing Fees and IDC
$60.7
Total
$149.6
* Note: ~US$26.3MM of contingency spend is assumed for purposes of sizing the financing
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