You said it, Vic GF aren't idiots and thats why I believe they are preapred to negate their risk associated with Mt Carlton. They are happy to pay more in order to see the project mature and all the possibilities around the resource get ticked off the list.
Also companies appetite for debt is and has been greatly diminished. They tipped a fair bit of mooler into Sino recently so maybe thats their play for the financial year.
They have made no secret about their desire to mitigate their current business risk in South Africa and grow their resource base worldwide. Whilst they have several mines in oproduction in NSW I beleive they will seek a greater percentage of production in Australia.
People associated with JJ would be very aware of the corporate activity potential associated with this one as is the wider investment community.
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