They are buying tenements which of course need to be explored...

They are buying tenements which of course need to be explored and tenements no doubt passed over by wyloo metals.
Maybe the scale was not for them.
The current project site is usefull for excution timelines, if the potential deposits become reserves.
Why the existing project exists in the current state and why they chose to develop BUCKO rather than drill out BOWDEN.? Is one qustion that comes to mind.
Have to trust that the BSX team have done their due diligence on Project Canada and understand the circumstances that lead to why certain directions were taken. If not then run.
Both beyond my time and competence, to get a handle on it.

Maybe the project is a long shot, an excuse to raise 10Mil!? ,still I'm not that cynical of Scott and team.
Plenty of risks and unknowns.
As mentioned in a post a few weeks ago the BSX Journey has evolved with the changeing landscape with a few false starts on the partner front.

Was not aware of concern for "dependence on third-party feed sources" Though thinking about it. It is understandable you don't want to build a refinery only to find 5 years down the track the rug gets pulled from under you for whatever reason. (And there are many)
A MOU is worthless and a signed deal does not run for ever. Early days it looked like Trafigura might have wanted some of the project to get some of the value add benfits..

Ban Phuc LOM, sure it is not ideal. The risks are that within the 10year operating window BSX can't achieve more local tenements and then exploration success on them, stranding a 8Mil concentrator (that payed for it self in what 3 years?). Though saying that the 10 year life is based on a cutoff grade which can be adjusted down dependent on the nickel price OPEX costs and other avaliable feed sources. (Drop the grade = less output).

Fred your 3b point. I appreciate your negative outlook.
Point of Wabowden is to derisk and diversify feedstock. There are no guarantees .
I dont think the purchase price will be an issue if it is a viable asset.
Strategically as holders we would want the "$10 million in Blackstone shares upon closing" excuted after partner is in the bag and BSX is a Bil $$ company.

Point 4 Construction inflation. Preasure has come off, noise out of germany is industrial plant purchase cost is down from 6months ago.
I'm just... beginning to think you have an agender.

What i'm reading is 2024 is going to be a pretty crap year with EU going into offical recession, the germans already there. Year on year downward growth in china the US consumer taped out, with credit card dept exploded in the last 12months, delinquencies on said cards starting to uptick. Still waiting for the continuation of next banking dominos to come fall in the mid tear US banks.
Wars, the far left US elections fascist bureaucracies on and on it goes.

In this backdrop strategically the best move for BSX is to go big on the cap raise.
It is a horrable raise price and at these levels the enterprise value is next to zero.
I have too many shares but i'll be over subscribing, not because of the dilution but I expect the sulfide nickel/refinery project is ecnomic and the powers won't give up on the %100 EV fantasy any time soon, driveing nickel consumption.
At 7cents the project is pretty much valued at peanuts.
But i'm a risk taker, and here there are many.