Why would they care?
It's clear we aren't going to supply the bulk of the funding. In fact, they don't even think Aussie fund managers will/can. The way I read the UDFS it's prepared in such a way that a foreign company will look to JV it then they will seek funding from the instos and banks for the rest. To me it looks like they looked at exactly what parameters would be attractive to their target market e.g size, strip ratio payback period and IRR balanced them off and delivered a UDFS to meet that. That type of tradeoff is sometimes called a "hill of value study".
All IMVHO.
Why would they care? It's clear we aren't going to supply the...
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