I can get pretty high quality deals at 10.00% right now in the high yield debt market.
9% seems pretty on the money given their hard asset backing. But I agree with you it's probably on the expensive side for Minres, their balance sheet is getting stretched. They are now at the maximum of their target gearing range.
As a comparison I can get Santos bonds right now for 7%, but their free cashflow yield is materially higher.
Good News & Bad News, page-33997
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