Interesting that the mined grade has never really come close to...

Interesting that the mined grade has never really come close to the reserve grade. I wonder how much this is about ability to control dilution. Narrow vein mining more than any other seems to be about management and operational expertise.

I like this deal on the face of it. Buying cheap assets where you likely have an operational edge over others should be good business (assuming they’ve done their due diligence). Not too dissimilar the takeover of Doray. It’s so easy to just go for a high price deal buying an asset at its best like RRL, SBM or even EVN’s deal for Ernest Henry last week. Crush the share structure permanently but you get ‘accretive’ numbers immediately.

On the other hand I guess it’s similar to NST and EVN forays into North America in the last 3 years. Neither of those forays has been particularly successful so far, however the assets look more complex than what Harte has.