Come, now, m0ngy: "Rox is also backed by Hawkes Point as a cornerstone investor." You speak of Hawkes Point as if it were a heavy hitter. The fact is that Ramelius has about twice as much cash lazing around as Hawkes Point has total assets under management. Hawkes Point only has three projects and they're getting a pasting at Ora Banda, so their risk profile is already shot.
The fact is I don't like the Apollo deal for Ramelius. Maybe it is act one in a three act play and so I need to be patient to find out how it ends. But the $130m or so they spend acquiring Apollo means that they have $130m less to buy an asset that does give them that stepchange growth they have been after for at least the last year. Plus they have to fork out at least $200m for a processing plant. To me, it makes about as little sense as were Ramelius to acquire Rox (I'm not knocking Youanmi, I just don't think it is a good fit with Ramelius).
Also, I think the decision by Bardoc to kill off their project last month has major repercussions throughout the WA gold mining sector. The reasons they gave for pulling the plug are materials inflation, labour shortages and major institutions reducing their risk. So I reckon you are being very brave sticking to that $60m prediction for a Youanmi plant: even if you can get the funding then you have to get the materials and then you have to get the workers. Going on the figures Bardoc released I reckon you should be talking of a capex of at least $80m.
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