Why we are not holding
BHP conduct JV AEM survey with Metallica and due to nothing found abandon JV
BHP sell Yabula refinery Townsville.
Metallica conduct expensive intensive exploration programme without attracting any investor interest.
Metallica sell to Aus mines, 5mill cash 5mill shares. Far less than money expended. Mine life 18 years.
Aus mines do not have binding offtake with SKI. Mine life extended to 30 years.
ASIC take action'
Still no investor interest.
Ann: Investor presentation, page-133
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