Not sure I agree with RWD's decision on KC. If LD goes ahead they'll be able to raise the capex and then some for exploration. RUM are the operators and the expenditure is minimal for a small project that may have good legs. So why dilute down unless you thought it will never make it ? RWD have shown their judgement in the past to be less than perfect so what I'm saying is for stuff all expenditure it would make sense to continue at 50%. There are also synergies with LM if both get off the ground.
might have to change the lakes name, page-32
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