Ann: Jaguar Central Outstanding Intercept, page-23

I hope you're right and it does grow that big, but do remember the objective of this drilling campaign was to feed the scoping study with high confidence metal required to complete the study. I think the scoping study will come back with a +$1 billion outcome. Not sure what parameters there targetting but I'm modeling a circa 2mtpa plant (200-250m CAPEX) with 15yr mine life feeding 1.5% dirt = 30,000t with 80% recovery that's 24,000t p.a at USD14,000/t that's $336m revenue and If we estimate a 50% gross margin for USD$168m per year for 15 years. Decide your discount rate and you've got a fair rough valuation.