$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.
PLV Price at posting:
56.3¢ Sentiment: None Disclosure: Held
