Do you complain about every other up and coming producer incurring expenses to get into production? Sadly there's no magic lamp to rub to have copper pour out of Nifty over night.
The team will get there one way or another. It's not like they'll spend $50m to get Nifty 80% of the way there, and say "nah, forget about it". The resources are proven, and we can easily work out what figure the future cash flow will be around. There's slim chance of not getting approval for debt financing considering how close the project is to generating huge profits. But even if approval doesn't fall through or go as planned - so what if we get diluted 10% or 20%. I'd rather remain invested in a company pocketing $100m+ AUD per year, with future growth prospects, than to sell out "cuz dilution" - especially when said company's market cap is less than that figure.
These past few months the team's been busy working on plant refurbishment. It's not like they're standing around doing nothing until the debt-financing is approved. It's absolutely insane the value which mid-long term investors are getting at these prices. CYM isn't a day-trade.
CYM Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
