There was 2 carrots -
1. A 2.5mtpa copper concentrator and all associated infrastructure (power, camp, airport etc).
2. A large tenement package in the highly prospective Paterson region
They needed to dangle these two carrots and sell the thing for whatever they could get, it’s $200m worth of infrastructure and 2,500sqkm of land package. How they couldn’t sell that for $1 I don’t know - i guess they simply chose not to because they wanted to have another crack and be managers of a multi asset business - risking shareholder money to try and cover themselves in glory.
Now they’ve sold all the upside in the tenement package.
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