Only other item I’d point out is the latest announcement notes moving forward with a new financial partner to replace them. If they could afford it with the loan in full why not just say “will proceed alone”, instead of letting the MC tank another ~10% which is likely, to bring it closer to $200M USD (which is the amount quoted as cash put into the project to date reasonable as a pre funding complete valuation). saying will proceed alone would also nearly double the INR intrinsic value overnight as they are not selling 1/2 the reserve upfront at pre production valuation. The market does not seem share your opinion (US market so far anyway).
INR Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
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