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.
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