I think you are being deliberatly mathematically challenged.
10-15% at a free carry to production.with bhushan contibuting 2-4 million of the exploration costs via their investment agreement, which means that Bowen will have to use little of their original budget to contibute to the exporation. This will free them up to spend the money on other projects.
Tell me what does it cost to develop a coal mine?
worth a review, page-52
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