EL,
You make some good points, and I would agree that $750m cash is probably too conservative (unless the OZL board knows a lot more than we do - which - I would hope is the case!!!)
The only caveat that I would add is that the board may be wanting to do an accelerated development of C and Munda. Remember that cash burn could be quite substantial for this case (much greater than P Hill free cash flow), and the board may be holding the $750m in reserve for this.
HT1
p.s. Any other alternatives other than AOH and RXM?
EL,You make some good points, and I would agree that $750m cash...
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