Why is it that ever time SKR posts a resource announcement the information usually raises more questions then answers. If you can weed thru the report and put a $ value to Merlin, SKR must be getting awfully close to $1b (bearing in mind that positive Xray results may take Merlin over the $1b). Now, if RIO decides to claw back 51%, SKR would be in a worse position then it is today, unless it discovers a further $1b in Merlin. Look at this senario.
Let's say today's total Merlin resource is $800m, next week they upgrade this to $1.1b. RIO decides to exercise its right to claw back 51%. SKRs portion of the $1.1b would now be reduced to $539m. So, by discovering an additional $300m, SKR would effectively lose $261m from their original resource of $800m.
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Why is it that ever time SKR posts a resource announcement the...
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