Go do some DD on the rather than make uninformed statements about ridiculous outcomes.
EMR can't buy anymore as their investment is through a closed private equity fund so they simply have no further capital in that fund to invest.
Brown's are a private so to have ~ $20m tied up into a single investment probably suggest they are not going to go overweight.
BCI's investment is strategic and was inherited from Aussie Super when they funded Mardie about 18 mths ago. Not an active buyer.
I know for a fact that bother EMR and Brown's have weighted cost of entry around 80c.
You might be frustrated but guys like EMR are in it for private equity returns, not to sell at a mine to midnight for 20% value of what it would be in 3 years when built and production.
Ann: Project Financing - Definitive Documentation Signed, page-8
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