If AVZ now has about 51% interest in the company that actually owns the resource (AVZ of course does directly own it, just like AJM didn’t own the resource but instead had a 100% interest in the holding company ALO that got sold to PLS), is it true to say that AVZ will have access to a 10Mt operation or is it more correct to say we are going to end up with the equivalent of a 5Mt operation? Both of course are most sizeable, but the difference is not insignificant to the bottom line is it. Now if I’m right that the correct value to consider is 5Mt and assuming nothing else is in the equation (which of course is not the case but keeping it simple here), then would a MC around twice LTR be expected if it were apples with apples (acknowledging there’s much more to it than just the currently proposed size of each simple spod mining operation )? If compared to PLS output, how does the proposed 5Mt (share) for AVZ compare to the currently proposed PLS max output - about the same is it or still the double you mention above? I ask because I have interest in all 3 operations (and others) and always keen to see where the greater future value exists.
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