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stillthefoxhat, with all due respect I do understand options having both made money and been burnt on them in the past. You neglect the word 'virtually' that I used. Those that believe CDU will mine at far higher than jorc grade for the 1st few years will expect a much higher share price in 2 years making the attaching option attractive. The perennial knockers will continue to knock.
I do agree however that it is a bit of an unusual offer being at such a premium but us long timers are pretty used to the unusual when it comes to WM!