Too small or not profitable enough?
It really depends on two things:
1. Future copper price expectations
2. BHP's hurdle rate of return requirement.
If the copper price appreciates even modestly to say US$4.50 / lb, then Kalkaroo will be a very profitable project.
If BHP has more lucrative projects then good luck to them.
There is no doubt that there are other smaller players equally keen on copper to make us a juicy offer.
BHP walking away would also mean letting go of a lot of SA exploration acreage.
I reckon at $200m BHP could afford to land bank the project and may do so rather than letting it go.
DDD
Too small or not profitable enough?It really depends on two...
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