Speculation mounts re Sirius' Independence, page-203

Milesey,

Agree, just a incoherent rant. Ironically some such posters simultaneously writing irrational up ramps on miners with cash costs alone around the pon, go figure.

If there is one valid I told you so, it is from all the IGO shareholders that told what a bad deal management entered into. Nova might be good, but it's not worth much in this nickel market, and never worth the deal offered. Even Long will not be covering all in sustaining costs right now ( and I doubt Nova AISC any better) based on the FY16 E&D spend.

Tropicana still a stand out asset, gold still near the AUD pit plan point, and unit operating costs must have fallen. No doubt will fall more in this environment, aided also by the mill expansion. All more reason why we shouldn't be overpaying for undeveloped assets.

I just hope SIR holders are stupid enough to vote against this deal that gives them all our cash and more than half our assets and cashflow ( and keep 55% on Nova, a point seemingly lost on many of them).

EL