Copper spokes and wheels, page-9

i'll take that bet. as i said, I am pretty certain that they already have been offered terms, but because of multiple bank offers and other equity interested parties, a degree of deal-making is involved in securing the best outcome for shareholders, who are substantially the directors and other key stakeholders.

FYI i have also inquired into the potential impact of recent short term weakness in copper prices.

A point which was made to me, which i must admit i had completely overlooked, was that at the time of the DFS and intial LOIs for finance, the forecast price of copper was, at the high end, around US$2.45/lb, and projections for $3.20/lb weren't until 2025. So recent strength in the copper price was arguably an anomaly and the banks are still working off US$2.45/lb in their calculations.

If anything, the banks are probably more eager to sign off on finance than we are, so a bit of shopping around is prudent.