The mine wasn't depleted. It was only worth 30m to the seller. The seller didn't have the appetite for G&A and capital work required to unlock the next $1B+ over 10+ years. Alistair and the investors here did. The delta between $30m and $300m can be best understood as the arbitrage of owners accepted risk between owners over time.
This arbitrage will grow as gold exploration upside presents itself as well as the spinout upside.
It really doesn't take a lot of research to get an understanding of the value proposition - even if one doesn't have the appetite for it.
The mine wasn't depleted. It was only worth 30m to the seller....
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