did you mean "most likely WILL get taken over"?
Renard is the icing on the cake for any potential acquirer. But they'll first need to see some numbers for upgrade capex, and opex to confirm economic viability.
If Renard replacement cost is 1bn AUD, but it's only worth having if you also control Adina, then I'd be happy for mgmt to sell the entire company for 1bn AUD, i.e. "here's a free lithium deposit".
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