Capex number is an issue for me. With a 6.5 year mine life it is probably going to be difficult to get $150M in funding.
Even if they were able to get some debt funding for say $90M, the share price is too low to raise equity.
If you compare to GCY, they had a capex closer to A$90M for similar resources/plant/mine life and were able to raise equity at more attractive prices so as not to be overly dilutionary. Local junior gold space in a bit of a rut at the moment.
Maybe CMM tap the market or cornerstone holder for a smaller raising to try and get by for next 6-9 months hoping A$ gold picks up.
I sold some for risk management purposes. Still cheap but could very well get cheaper.
Capex number is an issue for me. With a 6.5 year mine life it is...
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Last
$6.43 |
Change
0.010(0.16%) |
Mkt cap ! $2.397B | |||
| Open | High | Low | Value | Volume |
| $6.43 | $6.55 | $6.42 | $531.6K | 82.04K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 205 | $6.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.44 | 2986 | 24 |
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| Last trade - 12.40pm 04/12/2024 (20 minute delay) ? |
| CMM (ASX) Chart |
