Of you consider simberi and Atlantic will go - sold or c and m...

Of you consider simberi and Atlantic will go
- sold or c and m

your left with gwalia

Gwalia - what the forward capex and development plan?
How long will it take?
How many oz will they produce and at what cost?

that’s potentially the near term value of Sbm imo

then you have to consider imo- the equity position with such assets gone, and what would the net debt be imo- cashflow etc

personally I don’t think it’s a pretty picture

time will tell once they offload or wrote down the ong and Canadian assets - market will get some clarity

there is a lot of uncertainty in the market imo as to what Sbm would look like next year if the assets were sold off or placed in c and m and what are the costs/ times and production profiles of gwalia going to really look like

time will tell- good luck