Strategy - What happens next!!, page-186

Well firstly why are you doubling the 30 and the 21.5?

Secondly the 21.5m loan is part of the 80m if the JV goes ahead. You have AUD$145m for well over 200m of capex. PLS spent almost 100m on capex outside of that plant + WC + feasabilities etc. They have probably spent $350m. Tantalite won't add more than $50m to capex. So KDR have at least $250-300m just for 2Mt. KDR likely need to contribute AUD$75-100m. They have $40

And you clearly didn't look at the core logs. KDR have wayyyy more pre-strip to do than PLS and there is no gold at that end of the deposit.