I guess they could do that, but it wouldn't be ideal IMO. They've put quite a bit into Miraflores and it's got a resource estimate of 0.9 Moz. Plus they'd lose Tesorito along with it. From what little I know, and with my very limited understanding, Chuscal looks very promising, but for me they key is the close proximity of Tesorito and Miraflores to Chuscal. This could mean they could add valuable critical mass to Chuscal.
Correct me if I'm wrong, but they have until 21 June this year to come up with the 3 million? Let's see. Once they get a bit of funding to get going at Chuscal, a re-rate is not impossible, and that would open the possibility of a cap raising with far less dilution.
Valuation, page-103
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