The BOD has a figure. A figure that they would be happy to support. It has been rumoured about. I believe that it too low. If it went to a vote, the BOD would win. So it is a case of getting a good amount and being free to use it, or hanging around for a long time to get a motza. How much is a long time. It is 2 years to DTM another 4 to get the mine running in full swing and then at least 2 years to run down the CAPEX. Thereafter will be gravy.
How much is enough? CIA is worth $3B on a good day. We should be worth a lot more at DTM. But at DTM we only have 25%, so at least $750M AUD.
The figure rumoured is $500M US. (This was before RM came on board and before we were going to up the resource quantity). So about par. I reckon double this. Hopefully we split it.
CLE - Shaping Up To Be The Next Fortescue Metals Group., page-370
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