Ann: EQR acquires Tungsten Producer and Secures $25M Funding, page-98

Great response to clearly outline the massive win this deal is and to highlight Oaktree's size as well as reputation.

To do some quick calculations, by writing off their interco they're down $135M AUD (roughly at today's spot rate) and have invested a further $25M AUD at a share price of 9c per share with options exercisable at 10c per share (we'll ignore the options for now). Let's call their initially invested capital in EQR assets $160M AUD. So to breakeven on their invested capital, they need a 6.4x return on their $25M investment which translates to a share price of 57.6c.

I'm not suggesting they are trying to get back to breakeven, but I also don't think they're in here to try and get a 50% return on their $25M and disappear. They wouldn't have kept sinking money into Barruecopardo, to the tune of $135M AUD, if they didn't think it'd generate a return.