the vortex of money flow will gravitate to the stock who can firstly deliver a mine, and secondly before the timeline of others who simply think they can, thirdly the CAPEX dilution - tight register will be rationalised that one of these horses has much longer legs in it that all the others for those getting in now.
Compare the shares on issue now, V fully funded capex. A tight ship = a high EPS = a steep chart gradient with higher mountain tops.
If you are already over a billion in MC today, and you still have to finance a billion or so, what is your upside ? how many bags ?
Vs And if you are WR1 at only 200 something m, then how many bags when your capex dilution is already looking contained modestly.
Smart money will be funneling to the horse about to begin its race, not the ones that are already worked to death in the corn fields.
Chris said we failed to capitalize with a strong enough MRE at the running of the bulls, and PMT ran hardest.
And then came the dozens of others, and the market developed fatigue discerning the clear front runners.
So, come this acquisition, will distinguish ourselves with the CAPEX pathway and low risk approvals. That is the game changer. That is the EPS magic. That is the difference between delivering a high performance SP (geared through a tight register) , and one that flounders on permitting, or dilution tragedies.
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