I really shouldn't need to explain this one, but I will Do you...

I really shouldn't need to explain this one, but I will

Do you want to buy shares with a high business value or low business value?

Take the example, that there are two companies with the same asset.
Business A is valued at $100M based on its share price;
Business B is valued at $20M based on its share price

Do you buy Business A or Business B?

The lower business value is more attractive to a buyer.

GMC have a diluted market cap of $35M based on the current share price of $0.01 for 75% of the project.
The Investor paid $6M for 25% of the Project (i.e. comparably $18M for 75%).

If you include the $7M debt (once GMC spend the cash), GMC's business value increases to $42M ($35M +$7M). (Due to Assets = Debt + Shareholder Equity (Market Cap))

So great if you want to think this is a $42M business, but then it makes the value proposition worse to buyers...

Separately, where are GMC's smelters? How can shipping be delayed - I would have thought transport from port A to port B could at least go to plan?