infrastrucutreIvanhoe has already spent money on sinking the two shafts and other mining equipment purchased from GE. This has been expensed to date rather than capitalized and now that the agreement is signed these assets can be moved onto the balance sheet. The project development did not sit idle while the years passed waiting on the government to sign the agreement. The value of the wrok already done may be a surprise to the investment community....
Go back through the old financials and news releases to follow the development costs that were expensed in the past. DD as always.