You are extremely pessimistic and are comparing two very different situations with one another as if they’re the same. Pogo was already a producing asset with a very high AISC which means they were bleeding cash every day they paid workers and upkeep costs. Pickle crow only needs capital to drill and prove up the resource. Management would not have purchased this if they did not see potential, so I am willing to let them prove their decision in due course.
You are extremely pessimistic and are comparing two very...
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