large capital projects held by juniors with little funds is...

large capital projects held by juniors with little funds is always discounted due to the dilution effect... that why we are only valued at 12% PEP-NPV. "dilution effect" being either: asset selldown or issuing of new shares, which is inherently required to see any future cashflows. the key is the upgrade the intrinsic value of the project by de-risking exercises which enables minimising dilution. this enables a $200M MC company to sell a % of an asset valued at closer to $1Bn+. capital raises on open market anywhere close to current share price are out of the question - that debate is put to bed. CEO stated he may entertain a CR at much higher share price for a small 'top up' of working capital once principle capex is acquired from equity/debt facilities. this is what many have done in the past including Pilbara Minerals during initial production years for example. the exhaustive technical work done to date at Sunrise (which most competitors are only now comprehending) places Sunrise value proportion in pole position in terms of large strategic scale critical mineral projects in safe jurisdiction Australia. in terms of short term price action, as a small cap it will always ebb and flow due to any variety of factors including macro (cost of capital / rate hikes), lithium market jawboning by investment banks, nickel price movements from shorting activities of Chinese actors or short squeeze by bullish autos hedging on LME, perhaps cobalt price appreciation from throttling of Congo output due to deteriorating Chinese/Congo relationships.. the list is endless. to reiterate what others have said if investment banks want a material position in Sunrise they have very limited options, and most likely they will want to see the equity deal concluded first and foremost. it will truly be fireworks when this occurs and i look forward to it