I would suggest thats approx $450M of Sunk Cost Fallacy rather than infrastructure. Ageing infrastructure built on top of a problematic mine with many geotechnical/strip ratio/legacy enviro issues from the past, and with the best bits already taken out like a kindergarten cookie jar, mean that only someone with incredibly deep pockets/expertise in operational restarts and a long-sustained copper price boom all need to be happening (and for inflation to go away) before this is a success.
No banker/financer in the world is going to touch this without a heavy-hitting management team and an endless supply of money to cover cost overruns so it will have to be eye-watering dilution to get this restarted at any serious scale.
Ann: Investor Presentation, page-49
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