...and, sad to say, they'll be spending most of it on things...

...and, sad to say, they'll be spending most of it on things they did not raise it to do. The biggest con in ages; "give us $50M and we'll build a mine", turned into "Well at least we still have a bit of that left, look at us with our cash backing!"

Kylylahti's "conservative" metal price assumptions were, and I quote;
Cu = $2.50/lb (now a shade under $2)
Co = $16/lb (now swiftly dropping past this, but reliable data is hard to find)
Ni = $8/lb (now $5)
Zn = $1.50/lb or whatever, who cares, its meaningless.

Face the facts; they are STUFFED if getting mining is their game. No one will commit to the debt for a mine which has a "5% Cu equivalency" calculated on bull schnitzel metal prices, and an NPV which assumes longer term prices than is possible. If you were a bank you'd want to lock in hedges, and if they lock them in at these prices, it'll kill the mine.

Good night, Kylylahti.

Kuhmo might be OK, but its low-tenor unattractive concentrates will be murderous to smelt and the resources are too spread out for efficient mining - in Finland, that is, where is snows. So that's a dead donkey, unless we get lucky. We can also write off the Pt-Pd credits, the way platinum has traded recently.

I reckon 8c is too much. Cowden will still get his exhorbitant $400K per annum and all the other mugs will suck this dry in 2 or 3 years, and you'll be left holding onto sub-par assets covered in reindeer, snow, and vodka.