Something must happen., page-29

Forgive me for answering a question directed at someone else, but I spent some time figuring this out a while back. This was RVR's commodity forecast in the 2015 restart study:



And these were the key project metrics:



When I broke the production up over 5.25 years and applied the commodity forecasts from 2016-2021, I got a project life of mine revenue of A$704 million, but when I only applied the 2016 commodity forecast, I got A$630 million. If you allow for a rounding error on the concentrate totals, it seems the 2015 restart study only used the 2016 forecast, which had zinc at US$2,205/t.

The zinc price is currently at US$2,547. Even though it's well down from the highs of ~$2900 we saw a few months ago, the project is more attractive at current prices than it was a couple of years ago. LOM revenue is 4% higher today than in the restart study metrics.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7
0				21-Jun-17
1	Metal	Qty	Unit	Price (US$)	Exchange Rate	Revenue (A$)	%
2	Zinc	112k	tonne	2547	0.75	$380M	58%
3	Copper	19k	tonne	5625	0.75	$143M	22%
4	Lead	26k	tonne	2101	0.75	$73M	11%
5	Gold	10k	oz	1246	0.75	$17M	3%
6	Silver	1.9M	oz	16.50	0.75	$42M	6%
7	LOM					$654M