I do not think it matters much for shareholders if expansion is...

I do not think it matters much for shareholders if expansion is funded from income, a Jv or a credit raise.

Each will ultimately result in increased production or production share if it is a JV, and a a commesurate increase in share price. If it is a CR then presumably existing holders will be offered pro rata shares at a discount to market,, which of itself is valuable.

What is clear is that:

(a) A1M has a startlingly low cap for a producer with such recent increased rescoures, and seemingly on the cusp of firming those up and potential for far more resources;

(b) its current production means any need for further money will be for driving expansion, rather than the more tiresome and usual reason of small caps, to fund the salaries of managment and directors, and a few optimistically presented drill holes.

It has a remarkable risk / reward profile compared to so manyof the small caps.

I would view the current price levels as surprisingly low were it not that copper is not yet properly in flavour. But that will happen. I added a few more yesterday as it happens. I think the market has not reacted to future and potentially quite soon to be relised prospects for this.

GLTA.