Guys, The whole market has their hands in their pockets!Selling...

Guys,
The whole market has their hands in their pockets!
Selling on good news.

Surely we are not so naive to think that a bank will 100% gear any project or financing.
As soon as the $75m finance facilties was announced in Dec the smart investors realised:
1) this formed a guide for the size of the finncing and working capital.
2) price at the time 2.5c was then reset for the expected raising - whether Hartleys are right at 2c who knows, only the markets will tell, but you won't raise at higher than SP in this market.

Look at BSE got $170m debt approved and then 2 months later raised $163m equity (52:48) with a capex of $263m, therefore around $70m working cap.

WLF also recently announced $113m debt and $79m equity (60:40)

Relating that to MZI's $75m debt would expect about $45m of equity. Probably unrealistic given this is a low capital project so maybe $16m is about right given the working capital guide.

Do be optimistic by all means but don't be blind.

DYOR