Well not a surprise in hindsight I guess.$250mil for 20% of...

Well not a surprise in hindsight I guess.
$250mil for 20% of ASMH, a patch of ground near Dubbo that's currently producing absolutely nothing was always going to be a tough sell to the Koreans.
Mining isn't their bag and Koreans mostly got out of the mining game many years ago, however that's starting to change again very slowly due to recent global macro factors.
Koreans love a good JV on the Korean end too, and it's pretty uncommon to have a foreign company starting a venture and owning 100% in Korea like ASM does of KSMM. Hell even Starbucks was part owned by the Koreans in Korea, and now it's 100% owned by the Koreans.
The product out of the metals plant being crucial to Korean industry means they want a piece of the plant, and fair enough.
$8.90 is a fair price for the $15mil, so I'm good with that.
Down the track the $105mil investment will be at a much higher price.
Overall I'm extremely comfortable with my holding. ASM is the majority of my entire portfolio.
Everything I've heard out of Korea about this project says it will 100% happen, but it's just negotiations and plenty of time required.
If it dips below $6 again, I'll be buying more