I don't think it has to do with others Capex and Opex. It has to do with people wanting to fund HPA (and Iggys says anything else but gold at the project level) possibly with the debt piece not finalised yet.
Iggy's approach has been to derisk the project by getting all permits and actually building on the site. Yes, the Germans may go to take-over the whole lot and Deutch-Balaton is steadily positioning. On takeovers, the only way that happens is if the majority of SH agree on a price.
Damn happy Meelwar is there and would want it in Malaysia. (Thank-U - Tunku!)
So let's test the market with a green-bond in Europe, that ranks as second-tier debt just above equity.
IMVHO.
Ann: Altech - $14.5 million Underwritten Entitlement Offer, page-179
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