if they can pull together a Nicanda Hill JV, by mid year, is like only a few months away. - positioning now at 4c and sell into news would be typical.
makes sense that its tied to Ancuabe funding, as could potentially reduce any equity component if their is a cash contribution from the jv.
Do they have a big fish on the line ? would be interesting to know where it is. or Just a few bites ?
Given the time so far, would have to expect that they would want to start pulling the line in, and just move forward with whatever is on the line, than wait for the one to hang on the trophy wall.
Signature coming, page-206
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