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what’s the bad luck with the IDC?

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Jbi69

194 Posts.

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03/03/24

22:25

Post #: 72722207
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Originally posted by chuk: ↑

I think not so much a case of not doing a good job as a case of bad luck with the IDC and other options taking longer than hoped for so they had to make a call. Cr now or another delay. I think the cr was the best option. Yes, they could have done it 9 months ago but 9 months ago, they may had good discussions that had them expecting not to need a cr at all. The IDC might have been one of them. There are others. Unfortunately they are taking longer than expected so cr was needed now. Investors would not have been happy if production was to be postponed to next year to avoid a cr. Carrinho might have started to get impatient too.
Imagine if they did a cr 9 months ago and then got a couple of offers from companies wanting equity to partner on the GA project. We would then be asking why a cr was rushed into 9 months ago when they had enough cash to pursue other options.

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what’s the bad luck with the IDC?

MNB Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
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