"where debt can be problematic is when technical and price risks are extreme...neither applies in this case."
You could also add production risk to that list. i.e. strikes, plant malfunction, mine floods and possibly mine construction delays.
I agree debt looks cheaper than equity BEFORE the project is up and running, but as you say it can be problematic i.e. turn out to be more expensive than equity.
"where debt can be problematic is when technical and price risks...
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