Key person risk around scientists?, page-2

Don't think it's a big risk at this point, as the product is commercial ready so now the risks are more about being able to fund the capex and sell. Being able to make a new version of Photon to detect copper would be nice for future growth, but for now they have their hands full with gold, so I think they can put that on the back burner for the next 3 years.

I think you hit the nail on the head, the huge capex required to grow is a big obstacle. The recent cap raise is only going to be enough for 20 machines, and so they will constantly need more capital to deploy more machines. I guess next year with sufficient revenue, they can start using debts to fund growth. For me this stock is now more or less fully valued, with current market cap reflecting the company being able to capture at least 50% market share from fire assays. The 1 billion dollar to fund for that 300 machines is going to be very dilutive.