Companies do throw billions away BHP and RIO were notorious for...

Companies do throw billions away BHP and RIO were notorious for this in the past. But yes they have been much more prudent in the past few years.
The problem with SFR is they made a mistake buying MATSA at that price. Karl has lost his job because of it.
I had a quick look at the quarterly and the thing that shocked me was that MATSA can only produce 60000-65000T of copper. They have paid 1.8 billion US$ for that?
That was worth 1.2 US$ billion. If they had bought MATSA with only the cap raise and not needed the 600 million debt it would of been ok. Motheo would have been funded with cash at bank and they could of absorbed this downtown. AS things stand they are years from ever paying dividends again and if things deteriorate from here and we see sub $3 copper they will be fighting for survival.