From the above a general comment that may be more important than the specifics for NWC.
At present there is a shortage of Cu concentrate partially due to the building of Chinese smelters prior to the US move to fill their own ones. This is expected to lead the deficit of Cu refined metal by a year or two. Financing mines is an intricate dance, secondary only to the quality of the mine, (mine reserve grade if you want to be very crude).
We have just had a raising in that environment, it sets us up with a strong hand in financing the mine. I like the conditions or outline of the next plank, being streaming and the hand-picked laying team. I think doing the streaming deal now is close to optimal. However, there may be trade-off like having DFS and /or size of it but it's close and I assume there's a bit of horse trading going on.
All IMVHO.
NWC Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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