IXR has one of the lowest upfront capital intensive operations...

IXR has one of the lowest upfront capital intensive operations and is forecasted to generate just as much profit as a mine to concentrate operation.

90M usd can be easily funded. compare that to companies needing 500M to generate a similar profit per annum.

Low capex hurdles are one of the key facets I target in commodities investing. 45m usd debt equity a very easy option.

Acalara IPO just raised 100M usd to list on the TSX and that was for a project 1/10th the size and much lower NPV. IXR will have no issues securing capital for construction when the time comes.

In regards to raising cash, transparently I see something occurring prior to the mining licence and FS release. This could be for the full financing arrangement. probably late q3/4. After this quarter not much drilling which means costs significantly decrease. If they do raise cash (and again we're talking about 6/7 months away) will IMO either be 10m or so (5% dilution)x buy yourself a buffer for capital finance and also use funds to proceed with the separation studies and long lead items.

but very possible they just raise 40-50m and fund the equity part entirely. the 'dilution' only impact you if the market thinks the company is worth the same amount. If we're in q3 and we raise 45m it's almost a guarantee we're going mining and the debt component becomes a formality. not a snowflakes chance in hell 200m MC would be fair value based on the NPV figures and if then fully funded for production IMO with magnet recycling pipelines, downstream separation studies and probably now a clear picture of the mine to magnet strategy decoupled from China. Tim mentioned to me he may be travelling shortly, maybe to the Eu and US was what he meant.

excellent work team.

SF2TH