$63t plus royalties is not exactly competitve in comparison to...

$63t plus royalties is not exactly competitve in comparison to other Fe producers. Yes, they may be able to get this down in the future, but how much??

To raise $700m is going to cause further dilution and that will bring down the NPV - even with a high level of debt.

The date for production is a few years away yet.

At this stage Itshmus is disapointing.


All these factors have weaken the sp today and I would dare say for the future. Common sense really.