The earnings will ramp up significantly once Federation is into full swing. It will be one of the highest grade base metal mine's operating in Australia with an 8yr mine life (that is likely to grow). The risks for me lie not in their current assets (Dargues aside), but more with how the team take to the new CEO.
With OZ minerals being gobbled up by BHP it feels like the AMI board felt compelled to cherry pick from that surplus talent pool..... but while Bryan has sound pedigree, Andrew has done a great to date and as a Shareholder I'd be more at ease if he was given that post, or now that he hasn't then at least try and get him to stay on.... and perhaps assign the role (with some autonomy) of getting Federation developed and up to commercial production.
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