RE: Q34 Mar 2021 15:45
Regrettably RBW is still just a Burundian hole in the ground (regardless of how interesting it might be), a JV on a pile of gypsum in South Africa, & some machinery, with some business plans attached. A bank is very unlikely to lend on that basis - banks want tangible asset security, and RBW does not have that.
RBW is going to need to issue more stock to fund these various plans, and the equity market as a whole knows it. Hence (among other reasons) the relatively low share price.