so will we ever mine, or simply develop & sell, page-19

Missed the article about KS taking IOH private and launching a full takeover but it would be an immensely opportunistic bid when we have the IV deal done and dusted with royalties about to flow in and a solution to the Bungaroo solution looking like its on the horizon.

I got the feeling based on media reports that KS was not looking to inject more capital into IOH, eg. rumours that he was willing to go down to a minority stake and keeping any capex requirements of projects under $100m.

Realistically lets face it the independent directors would not endorse a takeover bid without a significant premium that captures some blue sky which poses significant finacing costs to KS. What woud be the benefit of a privatisation? Its not as if he doesnt have control now or any running strategic battles with minority holders. Most likely the strategy is to get Bungaroo into production, minority JV with Mardie, pay some divdidends, and look for further deals with a large hefty cash balance.