RE:RE:TRQ - What is up with them? The attributable capital costs for 20% of Lift1 only apply to the HNE development costs - potentially they are having difficulty assigning costs where capex (say the hoist or decline) are on non-JV ground. Do you apportion by product cation as it occurs, by grade or gross tonnage, how do you account for time to production differences between the two separate (Non-JV and JV) sources of production.
Do you accept cost overruns or delay costs, redesign costs?
To me the number that is most important is the estimated all in sustaining LOM cost per lb of CU, which I believe the last technical report pegged close to $1.50 US for Lifts 1 and 2 - there are some healthy margins there if copper and gold continue to strengthen - the leverage to both production and the huge optionality of downstream expansion and exploration potential give great leverage to the perfect storm for a massive copper gold mine - stagflation and a priority in clean energy infrastructure building demand for copper.
Time is running out for Rio Tinto to hide the value of OT.
As for what's going on with the arbitration one hopes we might be given some particulars at the AGM.
cg