Oh boy, here we go again. More keyboard warriors who find it...

Oh boy, here we go again. More keyboard warriors who find it much easier to spout off than doing the math.

And what is Sandfire going to do with their cheque, @vcj1925? Waste another 10 yrs looking for a replacement for a mine that's going t*ts up in 2?

Most miners have internal mandate for 15% post-acquisition IRR... how many 10 yr LOM projects with IRR over 90% and over 1Bln NPV8? This is one of those rare projects that only come around once every several yrs. Karl will be waiting a long time for another company-making opportunity like this. The IRR is so high here, Karl can afford to pay up (even with high WACC) and still manage a very respectable post-acquisition IRR here and that is the math that matters.