They said they are delaying FID until iron ore and freight prices stabilise. This is because they can't go ahead with the project with current market conditions, i.e. it is delayed indefinitely until the market improves.
They would need to raise equity financing. The IPO barely raised any $ when iron ore was very strong, can they now raise the required capital for the capex needs...? The list is long and seems to require the current market cap in funding... expenditure examples below
- Village expansion, around $3.6m
- Access road, around $6.8m
- Goldfields highway intersection, TBC
- Railway crossing, TBC
They said they are delaying FID until iron ore and freight...
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