Without reading the actual agreement, all I'm saying it that it sounds like DOE could elect to commercialize ACP itself (or assign its right to do so to some third party) in which case it would be obligated to pay a royalty to Centrus Energe not exceeding a maximum amount of $665 million. Such arrangements are very common in the energy sector generally. The royalty would likely be based on a percentage of sales by DOE or the assignee, and that royalty could be $1.00 or $100 million or whatever, based on sales, but be limited on the upside.
That's clear to me from the 10-K disclosure, just as clear as the words "exchange established by the State."
". . . payment of an agreed upon royalty to us, which shall not exceed $665 million in the aggregate."
So that means that the payment could be $1.00, which does not exceed $665 million. And it's a royalty at that, not a lump-sum payment.
At this point I could make a snarky comment about words mattering. That is, to all but Supreme Court justices. But I won't.
". . . if the commercial right is taken away, DOE has to pay a $600M package to Centrus."
Gojerra, can you tell us more about that or provide a link? TIA.
At under $5 per share (or $45 million for the whole company), the share price is merely a call option on dumb luck for an historical investment of public and private funds of around $4 billion. As I see it, this pig could grow wings at any time.
My view is that "nuclear power" and "seismic shifts" should never be used in the same sentence.
"Am I being too liberal or too conservative?"
I'm wondering if there aren't two more choices: sarcastic and cynical.
Maybe DOE needs to plow some of your uranium-breathing bacteria into the Piketon corn fields.
"California, meanwhile, is gearing up for freshwater production with a 50-million-gallon-per-day desalination production facility to open in Carlsbad (southern California) in November."
Hmmm. Too bad nearby nuclear-powered San Onofre is off-line forever and can't be used to make freshwater.
" Can we get an expert?"
I place my faith in Muffy's dad. If he says it, I believe it, and Albert Einstein couldn't change my mind.
"Iranian media outlets reported the quake as hitting a 4.4 magnitude . . . ."
Too bad it wasn't 8.4. That would make the amplitude of the gyrations 10,000 times higher, right?
One of you scientists must know how that works.
I'm certain that Gina McCarthy wants to regulate dikes too.
She is a Muslim sympathizer. No doubt about it. And she leads Obama by the nose; his focus is on golf.
"The big question is 'Is Obama/Kerry smart enough to realize that?'"
A bigger question for me is on which side of the table Obama and his handler, Valerie Jarrett, really sit. Kerry just wants the Nobel Peace Prize and cares little about the real risks, or what mischief the Iranians are up to.
The oven hood light won't turn on/off in the kitchen of a small apartment that I own.
Yesterday the appliance repairman gave me a quote of $394 for a new circuit board (plus labor) to fix it. Basically it needs a simple on/off toggle switch.
Last year I had to replace the 11-year-old double oven in my own kitchen because it needed a new control panel and Kitchen Aid longer manufactured that model and was out of stock. Cost: $2,800 with installation.
We've over engineered much of our simple tools that used to do the basics, seldom break, and could be repaired with a screw driver and a soldering iron when they did.
"Like one's own agenda, like . . . prostate operations . . . ."
VF, I think that qualifies as TMI.
Hope you have a speedy and successful recovery, regardless of Depends for the duration.