RE: Hannam updated valuation (same price target though)17 Jul 2024 23:46
Thanks again the Italian BUT this analysis highlights my point.
" The funding
package, when combined with the updated phased development, heavily derisks
the project with a remaining gap of just ~US$0.9bn to fund the US$1.55bn pre-
production capex budget outlined in the Marβ24 PFS, which we expect could be
filled by a combination of equity, a strategic partner at the asset level,
international development banks, and/or offtake-linked funding from smelters."
All these options are not going to be cheap.
But the time the 600mil is spent the project will be desperate to complete and will be at the mercy of the lender.
That was exactly the case with Sirius minerals in the end Anglo American got it for pennies.
Ps I hear AA is still struggling with the mine -could be the curses of the little guys they f**ked over.
But anyway lesson learnt.
I will sit on the sidelines and observe for now. There will be many buying opportunities.
Still don't trust Australian "mavericks" after Sirius minerals.
Ps this Gina Rinehart was also name dropped by the Sirius cowboys back in the day.