"Why didnt they just keep digging and selling as a way to fund further expansion?" - the only conclusion Ive come to is Trudeau. He's chosen not having a critical minerals industry over selling product to the CCP. I think he expects western midstream to manifest out of the ether overnight at zero cost and without subsidies. Clearly no one pulled the guy aside and told him the CCP has a 40+year/$480b USD head start. How it isnt obvious that they would most likely be the biggest buyer for the next 10 years is mind boggling. I have no idea why having them fund the project via sales is a bad idea - an OT with Shenghe would have been enough to get the ball rolling. MP hasnt exploded into a ball of flames.....
SRC dont have a bottomless pit of money, any other potential midstream is at capacity and/or lacking the subsidies to be competitive. That probably shrinks the buyers down to 0.
"Are theg going to mine the lake that they use when it is frozen to transport everthing" - imho, doubtful. There are plans for more roads up there that were announced around 2022/23 (iirc) though.
My take is basically, JT f%^ks off and we have a chance. Until then we wait for Ucore I guess.
VML Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
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