Well, I was right about JFE equalising their stake across the...

Well, I was right about JFE equalising their stake across the whole project... but I didn't think it would equalising it at zero!

So COK has just got the remaining 20% of Baralaba Expansion for $1. Fantastic deal, especially since COK will actually find it easier to run the project now that it's no longer a JV. And the production net to COK just increased by 25% (and 60% for the Baralaba mine, what's left of it).

Now all they need is for PCI prices to actually increase to a point where the mine is profitable.