That must be it eh? We need $500m to build the mine. On one hand, no one in their right mind would lend us $500m+ when the market cap is only $192m. On the other hand, doing a $500m equity raise at the current prices is just plain silly because we would be giving away $'billions in future income.
The only logical explanation must be waiting for share appreciation either to limit equity dilution or better debt financing conditions or both.
Anna Gulubova's prediction on Copper, page-11
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