People like Topp and Notely knew *nothing* about the industry economics before this. I'll give them credit for listening and hearing.
I'll also give them credit for resisting the urge to take all the upside potential which would have been as fatal as trying to get blood from the stone at current prices.
Still more hints at value added projects, which sounds to me like boondoggle refineries.
And the theory of rewarding lower cost producers sounds good but the devil will be in the details.
Solid grades. They brought in smart people. Clearly listened. Whether it was our good fortune that politics met a crap market or they were genuinely pragmatic about this all along the result is the same.
Now that the uncertainty is removed I think a lot of deep pockets will go shopping.
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