If the price of copper starts with a 6 - This project makes sense.
By the time this project goes through permitting, DFS, FID and construction, commissioning etc etc etc The price of copper will likely be upwards of $6 [The tsunami of copper demand coming from Electrification, Grid upgrades and data centres is unprecedented]
But, and its a big big but, the long term copper price forecast today is $4.3 and at that price this project will struggle to raise $2B+ that it needs. This is not a new information for CE/NAB/RR etc etc . They all know it.
I wouldnt expect too much from the water PFS either .. sorry to say as this may not be a popular view.
What really matters now is is there a party who would write a check for this project or the water project???
Investors are not stupid - Repeating $19 million cash as of 31.12.2024 is not going to change the facts. Its a shame that even after 3 months we keep seeing that 19M cash number being quoted in the presentation. Blind Freddy can tell that we will need to find some source of funding in next 3 months... Raise capital at 50c or sell the project in part or in its entirety?
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