I seem to remember it being said in a video that they can...

I seem to remember it being said in a video that they can eventually establish a year around camp, it's just the shipping window which is affected.

I see the taurus royalty as a necessary evil. As a spec company capital has to be raised, but from the perspective of taurus they went to a lot of effort to secure that royalty. They would have gone over this with as much DD as possible and ended up being highly confident that this will go to mine.

I think that as bad as the SP looks now, if the company can hold strong without excessively diluting the returns can still be quite astronomical (especially for those brave to buy the dip) due to not only the factors you've mentioned above but also the broader copper market which is very strong despite copper normally doing poorly in economic macro like we're dealing with now. I think it's just way too early to call how this ends up one way or another and we're really just speculating. The question is when the best time to buy more is, for me at least. Respect other people may be more bearish than I am, I just think the high quality of the grade/met/macro will win out and forgive a lot of mistakes. Still very early days.

I do agree dilution is a concern and I think lots of other holders share that concern.

As a final note, plenty of mining specs go through an upswing on discovery, get beaten down and then crawl their way back up to astronomical heights. We've discussed sandfire here a fair bit, at one point holders there were 90% down and just had to be patient and hold. Plenty of stories like this which is why I believe it's too early to pass judgement on where this will end up.