"Aka the bond is an advance payment on the rehab of cockatoo - it gets paid"
Humble you may be right but we wont know till the detail of the J.V gets released ( if it gets released )
It says its a Bank guarantee so it doesn't actually get paid its there presumably if the company fails to clean up the site at the end of the life of mine.
I imagine that the cost of cleanup which could be more or less than the $20m bond would be paid 50/50 between the J.V partners and the bank guarantee would be released back to timeone/
Obviously the costs of the bank guarantee would be borne 100% by timeone.
Parmaslpat I have " no beef " I am simple comenting on my interpretation of things - I never said it wasnt a good deal.
Hoot
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