Question-and-Answer Session
Operator
(Operator instructions) We will take our first question from Roger Read.
Roger Read – Natixis Bleichroeder
Good morning, gentlemen.
John Welch
Good morning, Roger.
Roger Read – Natixis Bleichroeder
Thanks for the overview. I guess the kind of focus of the hour will be the spending on ACP, so maybe if we could talk about – I understand liquidity issues. Is there anything else you would consider at this point on the capital raising front, be it debt or equity? Or have you all reached the point where it's DOE or kind of nothing given the way the market conditions have been and continue to be in terms of raising debt or equity?
John Barpoulis
I think we are very conscious of current financial market conditions and our guidance and I'd say our disclosure around our views of capital raising for ACP over time have evolved continuously to focusing on the DOE loan guarantee program as the path for raising the debt capital that we believe we need to complete the American Centrifuge project. So that will continue to be the focus. I'd say we are also trying to keep track of windows in the market and any changes in market conditions, but at this point we are very, very focused on raising the debt capital through the DOE loan guarantee program, and at this point, do not see any alternate path on that.
Roger Read – Natixis Bleichroeder
Okay. And is there anything that you are watching publicly out of the DOE at this point or maybe some or action by Congress that would lead you to believe that something else is happening – a particular governor of a state that's arguing in favor of this program?
John Welsh
This is John. There clearly is a lot of support for the program. You saw yesterday out of the Energy Committee and the Senate this continued push for a loan guarantee entity not just for nuclear projects but for all clean energy projects, and you see that with very strong support in the Senate. So, from that aspect I would say you see governors that both have a stake in the nuclear game and those governors specifically supporting our project and other projects very much engaged with their congressional counterparts to support a clean energy bank type of concept to support the financing for clean energy projects. Downstream that would certainly I think will have an impact on the energy program for nuclear because that would get wrapped up under that umbrella. So I think you again see lots of strong support and Secretary Chu is very supportive of that initiative by Senator Bingaman and Senator Murkowski.
- To read the full transcript on Seeking Alpha, click here »
