Wow, Taylor written down from $1.8B to only $500M.
Hermosa was S32's Great White Hope for growth, now it's a middling asset. Still good but not great.
By rough back of envelope calculations this writes off about 10% of S32's value. Goldman only visited the site in June and upgraded its value to US$1.85B or A$0.58 per share, losing potentially 70% of that today would mean 40c off the share price.
Will be interesting to see the market reaction.
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