Yes, same thoughts.
It's an LOI so very light on detail (expected) but at the same time adds to existing frustrations around concrete evidence of progress.
For me the actual dollar figures are not clear;
1. How much will RXM collect from the sale of interest
2. How much of this will be put to capex
3. How much will be debt funded
I understand that the LOI contemplates further farm-out opportunities but it would be help to understand above from a valuation perspective.
Its also a surprise that this was announced this side of '23. I was expecting partnering/funding announcement early next yr per previous comms. It does make me wonder what is really going on behind the scenes.
Ann: REx signs Letter of Intent with Nittetsu Mining, page-15
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