78 million is also what CFE paid to clear Coppercos debt and win...

78 million is also what CFE paid to clear Coppercos debt and win their assets incl an active copper mine in the same URL (Mt Isa) region . Including the $78 million, CFE have agreed to pay about $60 million more in working capital.
In fact Copperco had copper resource in Queensland of 58 million tonnes ..... URL has 128 million tonnes .

IMO, Xstrata and IVA will run a ruler over URL for merger or become JV partners and secure finance to operate the project .
URL is just too cheap and the players in the area now have an aggressive competitor for assets in CFE .