Dear All
I understand Minara's 60% share of the heap leach is around $120 M (total project $200 M).
It can today easily pay a 60 cent dividend and fully pay off the heap leach project and still have cash left in the bank.
The issue is really whether the Board have something else in mind such as an acquisition. But I think it would be very unlikely that Glencore would want to make an acquisition through Minara - it would make more sense to take the minorities out first.
Regards Eos
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