Need money for CAPEX. Can't raise it via the markets, JV or finance could be a long wait for it to turn.
Like the fundamentals but we won't be able to make money until we find a way to fund this thing. Look at MAK huge NPV on their project good fundamentals on the type of resource they have but no finance and a share price in free fall (they have really bad directors though).
Need great management in times like these to even get good projects ahead. Hopefully project finance starts flowing again soon!
SPM Price at posting:
10.5¢ Sentiment: LT Buy Disclosure: Held
