why rudy gomez sold out of carrapateena

With Rudy Gomez set to pick up a minimum of $145mill.for his stake in Carrapateena, one wonders what a 75year old man is going to do with all that money given that the average life span for men is 78. Ok he might live to 100 but at that stage he's going to be dribbling into his food and forgetting who his offspring are.

His mates who put up stakes of $20,000 and $40,000 are set to get $20mill between them for their 8% of RMG- not a bad return on their money.
Of course these figures will rise in the future depending on certain targets being met.

With the costs associated with the development of Carrapateena and the time frame to first production it is understandable why Gomez was favourable towards a cashed up entity taking over the project.If his mates have put up small stakes to help with drilling costs if is highly unlikely he was going to tap them for a few lazy billion to get the project off the ground.lol

Mind you the $16mill Teck payed for their initial stake would have helped pay a few grocery bills.

What warms me about the whole Carrapateena aquisition is the fact that OZL now have a huge project waiting in the wings to be developed that is close to PH and with no sovereign risk to contend with.(an article i read somewhere stated that the biggest sovereign risk this project faces is politicians hitting each other with rolled up newspapers.)lol.

Good times ahead !!!