Banks are NOT stupid.
They realise that this is one of the best copper areas in the world in a stable country and debt is essential in the startup phase - you then have a steady stream of income at a premium.
My ONLY concern is if there is a GFC type scenario. I still remember poor OZ MIN with ONLY a billion in debt and some *@&%#'s pulled the rug from under a very good company.
breach of debt covenants - overdone, page-26
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