That's a fair enough calcualtion Anatol. ( have read you're...

That's a fair enough calcualtion Anatol. ( have read you're posts from afar for a few years, and you're spot on ).
What kind of future capex rises though are we going to see for such late stage operations as LTR?
It's not all about Resource now.
High Interest Rates, slower growth ( a lot slower ) in China and rest of the world. Major cost rises in plant equipement and the other issue in OZ is lack scacity of skilled Manpower and the v high costs of employing and keeping them from competitors and or going abroad.
So if we take ALB's current offer of $6.6B, the LTR board are not stupid and imo are one of the best I've ever seen (i.e - trustworthy and on the same side as shareholders ) so if they are going to recommend it, there has to be majorly good reasosn for this.
One of them is the extreme high cost of final implementation / build out of the project and escalating costs combined with current weak growth / equity markets.
Sometimes its better to take the money and run, but you never know, there might be another big co to yet throw their hat in the ring. I can think of a few.
Good Luck To All
DC