Yup, $56m for a producing asset. The cost is pretty much the...

Yup, $56m for a producing asset. The cost is pretty much the same value as G6Ms capital raisings to cover all the costs blowouts over the last 12 months just to get their plant across the line. Asset has been producing for a few years now so risk reduced a lot further than Sangdong and Dolphin.

They had a 10year pit and then the option to go underground in the second stage. I haven't been able to find much in relation to the underground resource. Looking forward to Tuesdays webinar which should provide a lot more info and make everything a bit clearer.

As the reference stated the ore coming out of the ground is not as rich as they first thought so its having a direct impact to processing costs/recoveries. XRT sorters with any luck will enable the lower than expected ore to be enriched by many multiples and completely turn this issue on its head.

Overall I am experiencing a bit of information overload. I think the announcement could of been clearer around the 80m vs 25m debt. 80m is what Saloro owed Oaktree that has been wiped. 35m is what Saloro owed the spanish banks which EQR have inherited. It might take the market a few weeks to understand exactly what has occurred. I think it's a massive move for EQR and congratulations go out to the team for securing the deal. I wonder if Almonty was going for it again or they have their hands full with Sangdong.