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have released a very interesting RNS about a jv they've entered into with First Quantum Minerals.
It concerns Rio's La Granja copper project in Peru. Rio are selling 55% to FQ for $105m with a commitment from FQ to invest up to $546m for capital and operational expense. There will be a pro-rata spilt of costs. The resource has 4.3bn indicated and inferred tonnes.
I wonder why Rio decided to go down this route rather than develop it on their own?

Total tosh, anon. There are only two people against whom I've defended my opinion, that's all. If you don't like it please filter me.

You did no such thing. You simply said I was taking the pish because you have dyslexia, which I wasn't - and never have - and it would be good of you to admit the fact.
Your post on Saturday could not be blamed on dyslexia because you claimed you'd consulted a dictionary and, since you appear to be able to read, one is led to the conclusion you either lied or you thought you'd get away with it by hurling abuse at DS. And by the way, at no stage did you apologise for your egregious post.
For quite a long time now I've ignored your aggressive posts, but this morning I decided to make an exception. You decided for no good reason, to barge into an exchange between 1981 and me and I'm afraid I'm sick to death of your tiresome accusations and rudeness - hence my engagement with you. Anyway, that's enough from me on this subject and I'll go back to ignoring you.

Q, 'I just did...' What did you just do?

I said nothing about your dyslexia and never have - I have a son who suffers badly. The fact is you screeched that DS was "unintelligent" and "100 per cent wrong" for pointing out your misuse of 'compliment' versus 'complement'. You then stated the dictionary says both words are interchangeable, suggesting you actually looked it up, which, had you done so, you would have realised it doesn't and apologised accordingly.
'Emotional intelligence' - if you possessed one ounce you'd have put your hands up to your most recent error, (one among very many) but you've never done so in the past and I very much doubt you ever will.

Q, given your quite awful post on Saturday, I'd suggest you're in no position to opine.

You've quite clearly misunderstood my posts. The one at 18:38 yesterday states that none of us know how this will turn out, which I qualify by making the observation about taking this to production - bear in mind the recent public comments about this issue.
Like you, I've always looked at the balance of probabilities and this has led me to the conclusion a sale of ENSA is likely. I've been at pains not to place a timeline on this, rather it's you who insists you know the answer...indeed, you say it in virtually every post. A straightforward case of pot and kettle.
Btw, your sarcasm doesn't work, nor does your condescension...they simply make you look like a deeply unpleasant character.

"Try not to get caught up in absolutes"! That's all you've been doing for the past few weeks.
As for your exhortation for me to relax, I'm pretty certain I've been holding this share for an awful lot longer than you, so I can assure you I'm completely relaxed.

You have no more of an idea how things will turn out than any of us. The ONLY certainty is that we will not be taking this to production.

1981, you seem remarkably sure of yourself, which is odd given what's going on at the moment.

My take on this is that he's been appointed in fulfil the role when our non-Alpala assets are hived-off into Newco. Bear in mind, a full time CFO is a requirement for a new listing.

For those who are feeling downbeat about our prospects, the 30 second clip where he talks about Alpala is really worth listening to. It may well help dispel any feelings you may have about no one being interested. It's too big to be ignored.

It's always good to be reminded and reassured.

cov, why do you think Jiangzi invested recently? Did they sit around a table and say: " tell you what, we don't really like Cascabel, but why don't we chuck $36m at it just for a laugh?" Why did both BHP and NCM stand their corner in previous fund raises when they could easily have walked away? Why have they spent time agitating if they were no longer interested? Why does virtually every analyst and market commentator say it will be taken over? Why is Sangha so confident he can sell it?
There will be a myriad of reasons it hasn't already been sold - I suspect one of them may be that NM rebuffed previous informal approaches - but because something hasn't already happened does not mean it won't in the future.
Cov, I share your frustration, but as yet we have no proof that we're unable to sell Cascabel. I've said it plenty of times, but we're in a formal process which has not yet reached any conclusions and as it stands, we have no way of knowing how this is going to turn out. Many of us on here spent ages arguing for an SR and eventually the company delivered one; all we can do now is sit back and wait for the outcome and I remain confident the overriding and publicly stated intention of delivering shareholder value will be achieved.

If you're talking about the nitty-gritty I'd agree with you. For example, we don't know how many people we still employ and how those who remain are spending their days...other than re-locating a village. But we have had plenty of general descriptions and bigger picture stuff. But as Novice suggests, we've scaled back our activities quite considerably.
My own feeling is that we won't see much until the SR concludes.

pactrol, whilst all of us would welcome some news - provided it's good - it's not true to say the last update was 28 July last year. Have a look through the RNS section listed above.

RK, one point: You say 'Sangha is not an insider'. He most certainly is.

Bozi, doesn't that contradict your earlier post?

"Putin is the one who is going to come out of this smelling of roses". Jeez! Apart from the naivety of that statement, we have someone on here who thinks it's OK to support a war criminal.

Bozi, no, I don't think BHP will walk away. But the point is we are now in a formal process and BHP will be part of that. Citi/Maxit will orchestrate negotiations and as I said the other day, the re-balancing of the register means that BHP will not have it all their own way.