An important issue to me is the size and pricing of the expected capital raising. The bankable study refers to 30% equity funding - see footnote on page 14 where there is reference to a 70% debt funding package.
This appears to be suggesting a circa $50 m capital raising is coming soon with all the dilutiion that could entail for existing shareholders depending on the pricing.
In short, hard for the share price to increase with the overhang of this raising imminent.
Ann: Wetar Copper Bankable Feasibility Study , page-5
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