Well as far as things going wrong - I suppose the ass can fall out of the copper market or another rockfall.
I think 20 m is probably a bit light in comparison with value of the copper under the pit so no go at that price in my view. But the numbers in your original analysis indicate the bidder can pay more and still be ahead of the others. The question in my mind is how much was laid down by the others for their sites.
Is the site value included in the capex number or is that just to develop the project?
PHES, page-9
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