From page 5 of today's announcement..
"Mt Bevan may need at least $ 1.3 billion capex investment.
Equity part of NMDC and Legacy will be 30 per cent"
Again, 30% of 1.3 billion is around $400 million.
DGH44, (you cannot then apply 60% to this amount)- Because Haw won't be sharing this cost ! Obviously !
This money, $400 million, will be raised with a share issue- massive dilution.
Anyway,
What I can't get my head around is - why is NMDC organising 70% ?
Surely they are big enough to organise 100% are they not ?
Is this a deliberate ploy on their part to slowly increase their shareholding of Legacy at the expense of other shareholders who cannot participate in further capital raisings?
Why 70%, not 100% Sharon ??????????
announcement out , page-82
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