freida costs

If PNG decide to take an equity of say 30% of Freida they have to pay 30% of the "sunk costs" to that date plus their proportion thereafter.
Assuming that that all previous owners have spent in the order of $300m to date that is a cost to them of $90m. Who gets that ? and in what proportion?
I bet we don't. Probably some accounting fiction like provision of Government services or the like. Oh we'll,I suppose that's how it works.

Of course at the moment we have no show of financing our share.However as PanAust will take 18months to complete feasibility our other projects should be more developed.Ramu should be producing at full capacity ,our equity should be worth something even at these lousy nickle prices. Ok Tedi should be doing some drilling at Star Mountains after coming to some arrangement. All good for the share price by that time.

HIG should exercise their option for PanAust to take up further equity at (what was it) 7 cents. Nothing like having a bit in the kitty.