@RayMc of hearing "extremely hard for juniors to raise in the current environment" that is not entirely true. Many juniors with good quality assets are raising at large premiums from strategic investors/corporates.
for example local in country peer. TORQ. I'd argue that CPO is at the same level in terms of prospectivity and exploration level. TORQ is 10x the market cap of CPO.
only hard to raise from typical 708's because they are just flippers and they've been losing money in most placements over the past 12 months.
No raise at the moment should be done at a discount based on depressed valuations.
Again, structural issues that need to be addressed first. Management need to earn the trust of investors that they won't rug them.
1. Cornerstone the next raise 2. Raise a closer valuations to TORQ 3. Make sure they are funded for 16 months+ 4. Ability to Raise at a premium again.
Unless the intercept assays 200m @ 3% Cu. the response is going to be muted.
