The Mercuria $40m is a possibility @Hiddenvalue....nothing is...

The Mercuria $40m is a possibility @Hiddenvalue....nothing is certain until the funds are in the account. Just to refresh your memory regarding the certainty (or uncertainty) of WMX funding arrangements : remember the $60m Pacific Road Capital funding that was going to happen in Dec'17....

https://hotcopper.com.au/threads/ann-new-funding-package.3863195/
https://hotcopper.com.au/threads/ann-cancellation-of-entitlement-offer.3923237/

I wouldn't bank on Milan's near-term funding expectations for Mercuria. The current trajectory for FY21 production is somewhere below 60koz. Considering the lacklustre production & sky-high POG over the past couple of years, the Market has rated WMX on the basis of historic / current production PLUS investment from Delphi / other insto's.

I wonder where the MC would be if Delphi / other insto's weren't on the register? My guess is the MC would be lower.