raising $1b+ will obviously have an effect, I tend to look at a...

raising $1b+ will obviously have an effect, I tend to look at a market cap rather than the share price to gauge progress. The scale of future dilution will impact the individual share price. The following will need to happen before ruling out a lower share price:

• project finance method is disclosed and achieved
• project is successfully constructed, mined and processed. On time and on budget.
• invoices are paid in favourable terms

Buying at a higher share price can actually be of better value if a project is de-risks or the company develops the moat.