IGO had the first go on CSA but decide not to buy.
Pls look at my old post on IGO buy CYM at $120m to $150m for T.O. double of our current m. cap.
$150m + $200m ( Capex) = $350m to get up N running
N 25,000 ton/year cu plate in 2023.
And add CYM other sites for total of 80,000 ton/year. in 4 years time.
With IGO deep pockets maybe , in 3 years can be down
And IGO save on the JV $32m N combine Niffy with rest of IGO JV site.
Still cheaper to buy CYM as compare to buy CSA
dated 13 Dec 2021
58256777
why CYM is a Billion $ company in the making, page-987
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