The mine would've taken about 2 and a half years to develop.
Plus another 2 years for the mine to pay back the capital and become cash flow positive. So that's around 2016/2017.
Then for the next 5 years, CHN will only make back 60% of all revenue from the mine and then be taxed at 38% on all profits back to shareholders.
The mine has a NPV of $338-$360 million but that's in 10 years time.
Do you really want to wait that long!
Compared to what's being offered now: $100 million cash plus no debt.
get a better deal, page-3
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