When was it purchased though?
2billion was probably justified 2011 through to late 2012.. different time and different market may be the key here.
mongolia was also different back then, they have since changed the MRC laws about permitting and not in the company favour.. still not a bad place to be though with the proximity to china and China hoping to get supply security away from the big 4 (BHP, Rio, Vale, FMG).
Ann: Investor Presentation - September 2014, page-6
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