BGA,
Well pointed out re CAPEX, cost of smelter is huge,
Again another important reason why a SMM/AVQ JV makes sense,
The smelter that SMM owns will surely be used to refine the resource, at no cost to Avq holders.
What a best case is for holders I would suspect and mentioned before is that a 40/40/20 split with mining costs to be paid by SMM offset against damages charges from AVQ.
I could be wrong and we could be in court for 10years..... But somehow I don't think so.
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