Even IF they managed to raise all that capital, they still shouldn't have proceeded last year without a PPSA.
That's what I don't get it's good enough to burn 10's of millions of shareholders funds without a PPSA but not good enough for JV partner to do so which to me is probably mismanagement that money shouldn't be spent at all if nobody else in the entire world would ?
Would Invictus JV into another African country and front up cash without that country having a PPSA ? I doubt it.
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