I think you're missing the main point here: these guys are NOT capable of building an underground mine in a timely manner, and they know it.
So they are making the most sensible decision:sell the mine for the best price they can get. They clearly don't want to take the risk of getting financing they don't have yet, of suffering delays and more dilution.They prefer to get the money now rather than wait another 3 years (remember that the money is not worth the same in 3 years as it is now). They have taken advantage of this to take advantage of retail investors.
This is junior mining
NWC Price at posting:
2.8¢ Sentiment: None Disclosure: Held
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