This equity raise will probably cover the next 12 months of development and the debt/fcf can cover the 2nd 12 months.
This has 2 benefits. De-risks the balance sheet and saves approx 20%+ of interest payments (10%+/year).
We can move slowly accumulating cash and gradual sp appreciation or we can trust this management to quickly get to 20000T + in 2 years and take advantage of the predicted Cu deficit, while continuing to drill/increase our resource.
I know which i would prefer.
A wager on the Cap Raise Price, page-20
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