Chookman, I think they needed to do now to stay on schedule. Need to get the second tranche approved before FID and debt finalisation.
Also I would say with the price run up with the background of more COVID market turmoil likely it would have been silly to hope for further run up of the sp before doing this. Seems reading their material that with modest project debt this will comfortably take us into production AND allow for aggressive exploration. Looking forward to Mittel dropping off the mining schedule and a much larger Cassini.
EL
MCR Price at posting:
75.5¢ Sentiment: Buy Disclosure: Held
