a potential iron 5 bagger, page-4

If he russians made a play for SRK of say $1
they would receive the whole company for around the price the board wanted off them for the second tranche.

If they were keen to be part of the coy & knew they were effectively going to be the financier of the coy why not buy the whole dam lot now. Extremely cheap compared to what they paid. Any additional costs would have been there's anyway.
Most people would probably accept based on that being over 100% on current SP plus no signs of recovery in near future. I know i'd take $1

Then they would get the $60m thats in the bank.

so they outlay $100m max to get $60m in cash = $40m cost to them & they aquire the whole company. Peru IO & indo coal for $40m