Not particularly, just did a thorough DD before taking MDL's last placement, which did involve meeting the key people thru their business plan.
The key is incremental supply off an ultra low CapEx & OpEx at each point of the supply chain with quite a clever beneficiation process that should yield multiple by-product and minimal waste.
They are not dependent on achieving scale to support a massive CapEx, 4/5 other groups are working up similar business plans, some just to feed the Dragon, but MDL the most complete and advanced ATM.
Will be surprised to see any of the mega CapEx hard rocks like ARU ever get funded beyond low value concentrate feed to the Dragon, if at all.
Not particularly, just did a thorough DD before taking MDL's...
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12.5¢ |
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Mkt cap ! $381.9M | |||
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