I have no idea what you're smoking but you really need to think for yourself instead of just rehashing NI. We can all read what NI has posted. I caution you to use them as a source of truth as you'll end up in an echo chamber. They are clearly ramping sprouting rubbish and dates that will have zero chance of eventuating. They have been clearly WRONG about this stock (as indicated by it's performance) over the last two years.
To address your points:
1. Agreed, getting this funding was an amazing achievement. but you can't call the source of funding as non-dilutive. It is dilutive. If you need to reason why, here's a hint: if we sell our future revenue - will we, as shareholders, still be making as much as before?
2. NI sprouts rubbish, getting people to buy into a stock, the stock pumps hard. If you look at all of their announcements every one of them coincides with a pump in the price. Normal people like me, can't get in on the pump, and we're left bagholding.
Here's an example: NI repeatedly overvalues the comparison with surrounding producers. Initially they said neighbour RDG was worth 200mil marcap, now 80mil marcap, but if you read inbetween the lines, it's only a small part of RDG's revenue stream. That is very clearly misleading.
3. This was actually delayed funding from a long time ago - first announcement was almost 2 years ago now. It's a great achievement but as shareholders, we've suffered greatly because of the delay, which means we've priced the stock adequately by selling because of the potential for cap raises.
4. Pretty much a 5% dilution of our future revenue. It might all seem small, but bit by bit they're chipping away at potential future value. Don't get me wrong - still a great achievement. But oppies and future revenue loss is actually an approximate 5-10% dilution.
5. It is dilutive, just in a different way.
6. My guess is that there is zero chance we get off the ground in 2 years. We need at least another 12 months for PFS based on company track record...this has been delayed for over 1.5 years already when normally they only take 3-6 months....
BFS? That should be 6-12 months normally, so we might see this take 12 months.
Looking at our runway, we would need to take up the ATM, do another cap raise in between.
Then funding is still another big issue - as we've discussed, the dutch funding is not worth it's weight in paper.
So maybe 2-3 years getting funding down, 1/2 year for construction before production starts, 6 months delay with sales. We're looking at almost 4 years before we get payback.
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