there will absoloutely be further dilution. Even wuth 50-60% expected in debt from IDC-Bank JV, that’ll be $25-30m usd potentially, still leaving a gap of another $10-20m (depending on how much $ is required in order to access the debt component).
what no one knows is who gets that placement & at what price. If can get a major institution coming on board to take a $5-10m stake then even though it’s dilutive, at least going in long term hands who’re not modelling their exit on a 20-30% flip & gives that upfront cash to begin blasting. Streaming even if $5m or so will help everyone esp at current prices.
Will still expect at least some amount going to sophs etc but really hope they don’t do a spp/rights issue as will be slow burn.
At least once $25-30m debt funding is ticked off, remaning will be quicker to sort out who won’t need months for DD & audit committees.
Last 3 years have been challenging to say the least for bulk of the long term holders (including myself) who’ve been underwater & still need > 100% rise etc to break even & plenty opp cost. Hopefully 2025 can be the year wwi can pivot from promise to performance for all.
Obvious risks still involved with jurisdiction/remaining funding/execution etc to make it happen, but the ann early this week is a pretty good step in that direction.
good luck to all of us holding
WWI Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
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