Follow
Hermosa Mine in Southern Az revalued at $1.3B less, down 50%, parent firm announces https://www.tucsonsentinel.com/local/report/072523_south32_hermosa/hermosa-mine-southern-az-revalued-13b-less-down-50-parent-firm-announces/
Stock in Australian mining company South32 slumped Monday after the firm announced the planned Hermosa Mine in Southern Arizona is now worth less than half the value previously thought.
#Tucson #Arizona
@TucsonSentinel
Did I read that right? They put the same estimated deposits on the same logs, in two different ways, that doubled their value until it just happened to be pointed out that they made a whoopsie?
Don't recall that kind of thing busting the nation 20 years ago.
But they're still investing in the state, so...
Hopefully that flup won't impact locally. I mean, he said the foundational, fundamental, inspirational, hallucinational, directorial-debut promise is still there after all.