I have prebmviously expressed my T/O opinion and suggest with FE selling at 160+ per ton both BHP and RIO will have around 20b each free cashflow.
If they decide gold is a good counter cyclical play then DEG is a very good option. Build a gold plant and dig open pit. No issues plenty of annual capex in both. About 10b every year. On basic figures 500moz at 2000 is 1b revenue. Payback 1 year on plant. Outlay say 3b to buy it. If they own it they can put inter company debt into DEG to pay it back and get heaps of accumulated tax losses so no tax payable till maybe year 6.
All seems a no brainer to me and better than doing SH capital returns as they run out of things to spend money on.
Agree april or May most likely. I think MRE update could make DEG too expensive for most
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