I think you will find Denham pumped in north of $200m into the...

I think you will find Denham pumped in north of $200m into the asset (including acquisition cost of Atherton). Not all PE are the smartest guys in the room (you just don't hear about their mistakes - as they have no continuous disclosure obligations).
In terms of the asset combination, I would hold judgement until you see the full disclosure associated with the Shareholder Approval. Key will be the financials - there is no denying that Mt Garnet is operating at a cash loss, what will adding Auctus to the mix with a large slug of debt finance achieve?