Agreed Nij. The other point to make is that Glencore is a major like BHP and Rio. They are not interested in developing or persisting with 2nd tier/smaller projects (they may have interest in refining/buying the production from these smaller projects). This is not to say that these projects are no good (indeed some of them are very profitable eg. Hera), it's just that this is a different tier of the market. Smaller players eg. Toho, CBH, Lundin, First Quantum typically develop these smaller opps.
Ann: Southern Nights Returns High Grade Infill Results, page-46
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