Ann: Resolute Responds to Media Article, page-35

MN

Given JW's past obfuscation you could be right.  Well spotted Esh.

SBM sold the King of the Hills mine cheaply to SAR because they did not want to deal with future rehab costs, and later SAR sold it to RED, which has since found a substantial resource there.

The latest RSG accounts indicate there is provision of around $70m for future mine rehabilitation, but no break up of costs across the various mines for this activity, which would include the dormant Bibiani project (but not the recently acquired Mako), I suppose.   So the question is how much of the deal in upfront $100m value involves an upfront cash payment.  If half the costs relate to Ravenswood then the cash component would only be around $65m.

RSG acquired Ravenswood in 2004 from Xstrata for USD45m (AUD58m) as it was non core to their future plans.

disallowed/national/resolute-buys-xstratas-ravenswood-for-58m-20040114-gdi5jf.html

loki