@plough I'd prefer a share buyback over the ORR deal as a lot of...

@plough I'd prefer a share buyback over the ORR deal as a lot of investors would I believe. I'm also happy to forgo the tiny dividend. If PRU end up paying close to 1.0 NAV for ORR given their own valuation is quite a bit less than this, you have to wonder what the thinking behind it is. Of course they need to replace Reseves which are being depleted and to maintain guidance, but there's no immediate concerns around their Reserve base which can also be replenished organically.

Nyanzaga also needs to be constructed which carries its own in-country risk given Tanzania's somewhat dubious history of government backflips in the Resources space. And given we can probably expect another discounted market evaluation even after first production, I question the logic.