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12:21
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Originally posted by Deme
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New money in doesn’t care about old money in. They are in it for themselves and had to be enticed in the current market. 4c sucks, but it is what it is. There is no benevolence in this game.put it to the financiers in the format the latter demand. I believe this point was stressed at the recent AGM - as was the point that financiers are interested - but want to see expanded production that includes oxides and sulphides. Unless financiers are convinced that they are going to be repaid and risk is reduced to its absolute minimum - they won’t cough up the dough. This new team understands this point.Significant sunk capital reducing the overall capex requirement for the restart is critical when seeking to debt finance. Looking for $200m is nothing like seeking $500m or a billion plus like many hopefuls out there. No spec is going to be able to access more than a couple of hundred million (max) on their own.CYM remains the most compelling Cu developer on the ASX. I have a spreadsheet with every play listed, so am happy to debate this with anyone if they wish. IF the new management manage to do the heavy lifting, obtain finance next year and complete the refurb - I have little doubt that a major will take them over in the future. This isn't over by a long shot, but it is going to take more time than many of us had expected.
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Thanks @Deme
(20min delay)