In this tight credit market one would imagine a joint venture to spread their exposure many have suffere severe losses, more likely from Canada where Molybdenum is highly regarded and the US, "the usuall suspects" the major investment banks would have been approached or be making enquiries.
You would think JP Morgan & Morgan Stanley as lead financiers would take a stake. Possibly Chinese investment with world stockpiles down and demand high.
You would also like to think that our new board member Michael Senfts a retired New York investment executive, formerly managing director of CIBC World Markets and Merrill Lynch has some influence with his connections in clinching the deal.
On the basis of the current project lead time, capex and Molybdenum current prices and short to long term projections, Finance should be secure albeit slow. Due diligence a formality just required to keep the project on its scheduled timeline.
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