Whilst I do not know the history around this offer, the inference made by Mr Butston in what could be described as a general comment, was that 600mill was offered by a major player (at some point over the years no reference to how recent) to build a major 10mtpa or suchlike operation. He made a comment to the effect that they would get the process right with a smaller operation rather than go all out only to see the process fail. If anyone else that was there like to correct me or add to that I'm more than happy to be corrected.
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