what are BONs financial ability to develope sandpiper on its own?
if BON went alone, with UCL (lol finance) BON would get a 100% of nothing developed.
So, IMO, as both a MAK and BON holder, its reality time.
Together, with MAKs cash from DSO, development although put on maks back burner, to follow after wonara, is BONs best chance.
Now the only thing to make sure of, is that MAK make it to DSO, and 12m aint that far off, and the RP story might be different again in 12m.
WHo knows, if RP drops further, maybeit will be wonorah put on hold, and Sandpiper 50/t opex put on the front foot.
But who knows, fundementals indicate that elastically, underfertilise this year, means 2010 ought to be a good one for demand, and RP pricing.
Is the BON 1:10 deal fair? I look at it this way, there was really no premium paid for the BON shares, but big deal. The question is, dollar for dollar, would i just sell my bon shares, and have that same money invested into MAK - BON inc,
Answer, YEP.
Its about reducing risk to sucessful production, and that will increase the confidence of the lot, to rally.
cheers
AEV Price at posting:
43.8¢ Sentiment: LT Buy Disclosure: Held
