paul's here, page-2

Someone mentioned a capex of $750 m needed by STB to get to production; where did that figure come from?

Seems extreme.

BTW I dont think BHP would enter into a non democratic country with Human Right record like Eritrea. Other companies will, but not high profile ones.

The best thing about anyone doing their sums to buy out STB or work in partnership is it simply cat get any worse. ie The feasibility is based on a 50 / 50 split with the Eritrean govt and with the mining company paying all development cost. STB discovered too much too quickly.

Any other mining company, such as Sunridge Res, must be nervous the 50 / 50 split does not become the new norm.

Talk about a kick in the guts or put another way sovereign risk. Any shareholder dealing in such high risk countries would want to be buying so cheaply, as at any stage these govt can change the rules.