CAI's hedging has McBank making all the money, just like RRL except the later for some time has been on a grang scale. Note the chairmanship of each company. PNR in a rising A$AuP backdrop is far less hobbled.Agree that once 6c is retested we are not talking much daylight between mid 6 and double digits, ie then only A$1/2b market cap for six figure annual production in the medium term.
Ann: Half Yearly Report and Accounts, page-67
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