RE:RE:RE:RE:RE:Moz raises $150m at 1.10
Another reason for the size of the raise was a huge blowout in CAPEX compared with the DFS. From $305 mil CAD to 480-490mil. Let's just say $305 was being wildly optimistic. Yes, max capacity was relatively small at 4mtpa to the mill, but they needed a 40km powerline and a camp in a relatively remote location.
They also waffle on about sustaining costs being brought forward into initial CAPEX or some excuse along those lines. Basically that is saying we need to do more prestripping. (This project has an incredibly high strip ratio). This was bad planning on the part of management. Inflation does NOT account for a 50% increase in CAPEX!
How inflation will affect GENM is obviously yet to be seen. prices are almost certain to increase, which is why I always harp on about the significance of the mills being secured.