RE:apprehension ?Gonna be a negative nancy for a moment as the title is "apprehension" and will discuss all of those reasons.
The likelyhood of FT being kept in the deal is very low if not 0% chance. The reason is, any big whale (think BHP or Wyloo Metals) does not work in decades, they work WITHIN a decade.
They see anything that cant be done within 10 years as collosal failures so bringing a team on that couldnt do it would be dentrimental to the bigger companies goals. Its either a full buyout, or a limited partnership. There is rarely an inbetween when it comes to the scale of partner needed for such a project to move forward.
The fact it is on native (Indigenous) land is actually a detractor rather then a positive for any third party looking to buy, even if they are willing partners, it is 1 more group you need to negotiate with in a already complex geo-political landscape that is Canada... especially if all the companies to buyout are foreign in nature.
For the US, need and want are two very different things. It would be "nice" to have a North American Cobalt reserve and wanting that would be ideal.... but they do not absolutely "need" this specific mine. The US (and Canada) have shown we don't mind gathering our resources off the sweat of children, or from conflict zones. We want to do better, but the reality is, there isn't really a need that would translate into this mine being considered "too big to fail". There is this belief that they absolutely need to, but they dont and Canada, unfortunately, has not been friendly to the mining industry the past 20 years.
We have a Spur road that hasnt been discussed all summer (sus, no updates? they provided updates on the highway at 25, 50 and 75% completion but not the spur?) and a refinary that hasn't even had a dollar swap hands yet. The most recent acquistion in my mind (NOT) was in a bidding war for months, and they publicly disclosed when they didnt have to that they were being looking at by a bigger company for a buyout... and yet, FT has not even had a whisper or hint of such a thing from investor relations in recent memories. As far as the companies finances are concerned, it is quite literally on borrowed time.
These would all add up to the apprehension of any new money getting involved in this company.
For the positive, I think most know my positive positions on this stock but these are the reasons that would detract.
Stay strong longs,