By my calculation of the cash flow, they spent about 600k to buy...

By my calculation of the cash flow, they spent about 600k to buy the put option. Imo it's a pretty good deal given the gold price is still at 1200 only arm.

Hoping for 10cents price is quite optimistic. If Henty still have a continuing life, it will be great, however this is not the case.

In the next few month, henty will be closed until further update on Darwin. There is unlikely to be much progress at dargues and kangaroo flats will be a drain, with little prospect of being off loaded.