SP, Engho has been a liability rather than an asset when...

SP, Engho has been a liability rather than an asset when everything added up. So good news it's being closed. If/when open pit operates - totally different story. But who knows, approval may still be 6 months away.

Torrecillas has the profile to be low cost and a big cash generator. This is the asset. The DFS must be almost complete.

The placement will show what sort of value a big investor puts on the Torrecillas asset with the liability out of the way. We have to wait to see, but at a guess it will be significantly more than Friday's close.