With all respect
@kervio you harp on about upramping but you're no better with your downramping. You keeping talking about how they have no money yet the company have said numerous times that that they're in the process of securing the tranche 2 royalty funding which after the first successful has allowed them to progress with the PFS. It seems to me that the only thing that would make you happy is for the company to do a CR and issue millions of new shares. Which I assume if they did, you would then move onto a complaint about no progress and how they are milking shareholders of their funds. Its also been said here that they have an ATM facility which allows them to issue shares a price that they set so that's funding they can access should they need to.
In terms of your comments of a JV or buyout, why exactly is that 'the most realistic path forwards' (you've not actually told us why but it seems to be gospel when you say it?) The SS estimated a project cost of around $109 mil, quite small when you look at other projects that are going around. If they decided to do a cap raise at today's price to just fund the entire thing they could do so with issuing $419 million shares, but that would dilute current shareholders and the directors shareholders which would impact the overall SP growth with that many shares on issue. A tight register allows them options to raise but at a higher price without much dilution. Look at other companies with billions of shares on issue that are still trying to get their projects up and running, how are they fairing in terms of growth. Yes there's speculation on the future and what the share price will be, but by all accounts the project is straight forward and there's a market for them to grow in it and if executed correctly then there's no reason why dividends can't be issued out of the profits which if there limited shares, means a higher dividend value.
With all the posts about HVY 'upramping', its at least supported some data, yours appears to be, they must raise cash, they're not doing it right but you've not really illustrated why your views should be considered seriously. Happy for you to explain to the group your views with actual reasoning with some data rather than an opinion and then firing shots at those defending the share.
Looking forward to your response
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