Capital is the issue here and the fact that this market is so hard to raise money in, I think a big discount will be required hence why everyone’s hesitate here until they sort there capital issues. Imagine they do something like 40% discount raising to the VWAP being 0.012 to 0.008. And if you buy today your buying at a potential 80% premium to the raise price. Better off waiting on the sidelines to this issue is sorted IMO then assess from there.
Ann: Novales-Udias Project & Development Update and Pathway, page-6
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