Agreed re no ability to solely fund on their own and thus...

Agreed re no ability to solely fund on their own and thus minimal leverage but that is the case with almost any junior in the resource space, hence why a farm out or sale always seemed like the most likely way forward. Appreciating there are many similar projects worldwide (as there is with every commodity) but this seems/ed to stack up pretty well. It's IRR on the scoping study was already above Jansen.

As I said, given the lower capex relative to other projects and potential brownfieldsness of it it struck me as an attractive one to enter the market and take lessons from it without needing to go in as hard on a larger or greenfields one.

Overarching macro of unstable countries / regions / lunatic megalomaniacs also seemed that these types of projects in tier 1 jurisdictions would attract capital away from other ones in lower tier jurisdictions.

Anyway, my take on it certainly seems at odds with the market, and I guess I have looked at the challenges and felt they were reasonably solvable whereas the market says no.