I am fully expecting an equity raise as part of the overall funding package - as I have stated via these boards and to you personally on Twitter (numerous times). It isn't a fait accompli, but looking at their cash levels - I think they will need to raise very soon. So what? Using the analogy of domestic violence is just ridiculous.
I can personally stomach some dilution to see a deal get done. It isn't the same as dilution (for working cap) you see with many explorers - which is basically used to finance management lifestyles. They are actually using the money to transition this company from a developer to a producer. And it may be a requirement as part of the senior debt package. We don't know as yet.
You seem to think they should just make finance happen tomorrow - presto - like magic. As I have been trying to calmly explain, these deals are complex, especially at this end of the market. Debt finance isn't a cakewalk - not for hundreds of millions & in an extremely challenging market right now. Companies looking for a billion plus can forget about it (they are pipe dreams) - something you are about to learn the hard way via your other holding. And it really is amusing how you have incessantly bagged Cyprium all year for dragging their feet on finance for $250m - while staying mum on your other play requiring $2.1 billion in capex (ouch).
You keep beating the drum that they raised off the Glencore LOI - with the implication that it was simply for working cap and not because they actually believed that Glencore would move to sign the off-take (which I personally find ludicrous). Read between the lines. They obviously expected to deal with Glencore, but it never happened. And they've lost time as a result. As such, they have burnt through cash. It is what it is.
Of course, they are going to try and leverage positive news - but to imply they had nefarious intentions is wrong. And if you had bothered to speak with Baz (you never did answer my question as to whether you had contacted him) you would know this.
To repeat what I said to you in early Dec, you are clearly bitter at the timing of your entry with this play. And you are still refusing to own it - preferring to blame others. It is very childish. Everyone knows your thoughts on Baz & his timelines. You have repeated yourself ad nauseam all year. And it hasn't made you feel any better by the looks of things. You've even admitted that you were at fault for taking Baz on his word (twice).
Many punters have been burnt the same way for buying into his overexuberance. The SP has been smashed & I imagine many punters (including myself) are well in the red here. Some of us prefer not to make a song and dance of it, though. And some of us have put it into perspective - given the perfect storm of events that went down in 2022. And some of us have remained quietly confident in management getting the best possible deal done for shareholders - that will see them make the successful transition into a copper producer in the next 12-18 months. Yes, it has taken longer than many had expected. Welcome to the world of mining - especially at the developer end.
I last had a chat with Baz via his moby a couple of months ago. Reached him from Tokyo to Perth on the first ring. Chatted for 30 mins or so. It wasn't that hard. Not sure why you don't just pick up the phone and have a chat with the bloke if you have unresolved issues or questions. Or you can just keep making things up in your own mind and spilling them everywhere. I will keep calling you out, though. Rest assured of that.
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