Construction is one thing, producing a saleable product for a profit is another.
Its not unusual for holders to expect a big re-rate as construction advances but it rarely happens.
You know why?
Delays, cost over runs, plant commissioning problems and grade issues - among other things.
In summary, despite the appearance of progress, it’s not a done deal!
Another sell off on a hiccup is still in the future.
DDD
Ann: US$20m debt facility to complete the Lindi Jumbo Project, page-330
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