Ducky its not the case. Cash in bank is king at the moment. If they are struggling to get cash in for FID via bank loan then this lessens the burden. Your $20mill scenario may well be the case on a higher Cu price and larger grade tonnage. However your assumption based on gross revenue is GROSSLY incorrect. Its net revenue.
Whoever stated there isn't much difference between gross and net revenue really needs their head adjusting. unbelievable statement.
Ann: $6m Funding Agreement For The Sale of Kanmantoo Royalty, page-47
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| Open | High | Low | Value | Volume |
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