Because speculation's fun...It's worth noting another option to...

Because speculation's fun...

It's worth noting another option to avoid dilution; CYM could follow AR1 with an off-take and prepayment agreement if one's available. Barry's mentioned this as a possibility before.

For a total 40,000t of cathode over a four year period, and an option to participate in further potential growth, Glencore's willing to provide a $21m prepayment facility for AR1.

If you applied the same type of prepayment agreement to meet CYM's scale of production; a four year period netting 100,000t of cathode should provide upwards of $52.5m.

But the difference here is; AR1 doesn't have any further resources at the moment. CYM already has another 20+ years of production to follow. So perhaps CYM could secure more than that figure.