Bilbar,
Not so fast!, there is value in this
Yes AGO is paying a significant premium but;
1. Port access has been one of the long term problems threatening AGO business model and this has now been addressed for the next few years. The remaining one is rail access, so we should be asking which junior has a rail arrangement or Chinese partner to fund a railway.
2. Bala Bala could well be another Ridley so Atlas can satisfy in due course both the Chinese and Indians that have expressed interest in Ridley. If Bala bala is anything like Ridley then the price being paid now will seem a bargain.
BR
Max
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