Yeah i always wondered why BHP didnt want it for those exact reasons. Maybe they were burnt by gold in the past... But they have all that infrastructure up in the pilbara to leverage off.
Gold would add some diversification at a time when they seem to be divesting themselves out of coal and becoming more concentrated.
Now is Also a time of great relative value to do a deal at good time in the gold (and De greys) value cycle.
Not much risk in terms of the resource etc. Just need the megabucks to build it, which they have.
Could our hemi,duicon,eagle etc have their feathers ruffled by a BHP black swan? Not impossible I think but would be surprise for sure.
Gold Price, page-127
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