Maybe because it isn't a bad deal at all?
Leonora asset:
- Production: 130-135 koz/year
- Resources: 10 Moz
Even if only half of all resources are mineable with profit, this asset will have a mine life way over 40 years!
718 Million / 40 years / 130 koz production = 130AUD/oz profit needed for break even
Do you think SLR will get more than 130AUD/oz profit from this asset?
I'll bet they do much more.
Ann: SLR Ready to Rapidly Progress Revised Leonora Proposal, page-14
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