Understand your concerns, however CXO couldn't do much without cash in the bank. Debt is the bigger killer of Stage 1 mining companies as the executive are keen to feed the shareholders a short term jump in share price to trigger their performance options. They jump before true cost of debt emerges.
Debt funding of Stage 2 would make sense as we will have optimised Stage 1, built and stabilised workforce skills and locked in sustainable cash flows to Tier 1 customers.
We will also have a strong balance sheet to support our $500m contribution to a Stage 3 hydroxide plant.
Some dilution is good, particularly when it gets you mining and you still control your own destiny.
GLTAH DYOR
Ann: Transformational Equity Raise to Fully Fund Finniss, page-88
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Last
10.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $225.0M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.5¢ | $24.29K | 231.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 205 | 13032125 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 1248883 | 14 |
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| Last trade - 10.08am 15/11/2024 (20 minute delay) ? |
| CXO (ASX) Chart |