Gripper,
The reality is that it looks likely that they will take the asset sale avenue....
The most likely situation from reading the announcement -
Sale of Martabe & JV on Prom Hill to basically remove all debt problems...
I suspect - add a Cap. raising to further strengthen the balance sheet....
Say a 50/50% JV with BHP on PH would probably create reasonable cost savings and greater output with the ability to also use the excess capacity of the Olympic Dam refinery for PH's concentrate.....
Personally I only have a trading position, so whatever happens, happens - just another trade for me....
But I do feel for LT holders....
4:57:32 pm oz minerals update, page-68
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