Regarding the CR today - SPR believe it is likely it will be enough to go into production and has some contingency included - they are not stating they are fully funded but Simon told me if they do need to raise more money it will be debt (not equity) and if they need to raise debt they will have lots of stock piles of (high grade) ore that will be enough for them to not be forced to use hedging by the debt provider.
Simon believes RMS cannot afford a TO of SPR - using the 37% premium NST is paying for DEG the TO would value SPR at close to RMS MC less the 20% RMS will own after the CR ie about $1.75b - $1.8b - that is a very big ask but not impossible! Never say Never!
Regarding the CR today - SPR believe it is likely it will be...
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Last
$2.13 |
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Mkt cap ! $2.847B | |||
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