If it's North Portia what's it worth?
According to my calcs the in Situ value not counting the Co is 1.47billion
2% of that is $28mil
Things that make North Portia more attractive:
-native title completed
-mining lease approved (fits in Portia mining lease I think)
-$6mil already spent on processing plant
-portia open pit could be used for water storage or tailings dump.
-shallow overburden removal before hitting ore.
you would have to think that all these factors have de risked the mine greatly thus demanding a higher in Situ percentage.
Be very interesting to see what sort of deal is done if it is North Portia.
Just some thoughts.
Still think I'd rather it be Kalkaroo for $500mil
Ann: Trading Halt, page-13
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