My understanding is that the update concerns the next 3 years but the original terms of the JVs still stand. So in order to retain their stake in the projects Ok Tedi must still spend the $60m in 5 years. Seems positive as far as Esis is concerned since they will be spending a lot there this year. Just need to see the results they are sitting on and I think the share price will get a bump up.
ok tedi budgets out, page-32
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