where do you put you money., page-6

Yes, I did mix up Capex and Opex in my last post.

The SP is actually performed better than I initially thought. The news that the Chinese pulled out of MMX deal changed my view towards PLV project. Therefore, I did a trade between 26c and 40c. If the company has enough cash, the SP could go back to 50c. However, with CR hanging over head, the chance of further increase in SP above 40c is slim. Especially, we have a negative lead from US market for Monday.

If the company do a small placement like 3 million to limit dilution but buy them more time to recover SP, they are sensible and responsible.

If the company could reduce the project target to 1.5 mtpa, thus reduce Capex to $250m. If so, they can debt funding one third, CR for 80m and get a partner for the rest. If that could happen, it will be very positive for shareholders. They can always increase their production later.

To expect that they will find a project partner to contribute 200m plus for 30% of the company, I doubt it. Why someone want to pay 200m for 35% of the project when they can launch a full T/O for 200m.

All in IMO