It only cost MAT $125k plus a small royalty to purchase Red Dog,...

It only cost MAT $125k plus a small royalty to purchase Red Dog, so even with drilling and mining application plus minig costs, they would've still made a handy profit on this project. The dividend and original purchase price is covered by the extra $500k profit made above the projected profit of $5m.

I will ask Paul what the overall profit is after all costs from acquiring and mining Red Dog when I attend the RIU Explorers Conference in Fremantle next month. I expect it to be around $4m.

The deposit was quite shallow at around 10m deep and already known prior to acquisition, so upfront cost should've been minimal.