I agree. We don’t really know why finance has been delayed. Handling uncertainty is always stressful and if your mood is negative one tends to assume the worst eg management incompetence. But we really don’t know. My own view has been lenders wanting to take time to see how China’s economy performs. A recession there could smash the copper price and you wouldn’t want to be financing an unhedged mining operation in those circumstances.
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I agree. We don’t really know why finance has been delayed....
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