ASF
Yep they own & operate.
But to build the villages it is out of their own funds ( it takes money to make money ) . Rio do not generally give you a bucket of their money so you can make money.
They need to fund this out of operating cashflow ( which looks a bit skinny right now, as compared with prior years ) or debt.
Given last half divy consumed about $14m ( net after DRP ) and operating cashflow was $5m , and they had $9m or so in the bank at 31/12, you can see how any capex will make cash position a bit tighter.
Baraka
starting to go long at $3.65, page-21
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