@Launched
100% agree. SM has done a great job balancing debt/equity funding.
Dilution was always on the cards as part of funding Phase 2. There is nothing to fear here given the value immediately in front of us, and even greater potential in Phase 2.
Although I make my own calls, if SM as a significant SH is comfortable with the dilution, why would I also not be (rhetorical)
cheers.
kk
Ivanhoe DD period & 30 day VWAP, page-55
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