I 100% agree the more I think about it, I'd posted in a GMD thread last night.
you would also have to wonder if SBM lenders forced a rejig of the first deal
4-5 months since the first deal was announced and given its a material change, it would have given the lenders adequate time to re assess projects, assets, financials etc and realised the new Phoenician Metals company wasn't going to cut it serviceability wise hence the new deal with the sale only of the Leonora assets
a genius move in RF's tactical plan maybe!
SBM Price at posting:
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