I don't believe the market thinks the mine will not get financed. It will, at current gold prices, either under Tyhee's sole ownership, a JV or be bought outright. The ore in the ground is just too valuable to leave there. The release of the PFS will bring more certainty to the value of the asset.
Other things being equal, and assuming we had efficient, unmanipulated markets, the stock should be worth about the same whichever route is taken because the asset is what it is and mining costs will be same whatever route is taken.
However, markets aren't efficient and hate uncertainty and right now investors can't see a clear route to production. In addition, the stock may be being held back because of worries about manipulation of the share price by the bankers ahead of any major financing.
Announcement of a JV whereby Tyhee doesn't have to go cap in hand to the bankers would blow all those fears out of the water. So, I'm sympathetic to Strike's opinion and have been hoping something would come of the Ming Fung tie up. It may yet happen.
