Communication Breakdown, page-51

We've got a MC of A$1.1b which includes A$350m in cash.

We made EBITDA of A$260m in FY2021. Similar is projected for FY2022.

Interest was Zero. Tax was Zero. Amortisation was Zero. That's a lot of bloody depreciation to come back to the NPAT of A$141.3m (Admin and expensed exploration expenditure assumed similar to FY2020 of A$31m).

We have a Resource with (theoretically) a Life of Mine for another 20 years. Will we have to spend A$100m in CapEx every year to mine it?

Otherwise, it appears we have free cash flow upwards of A$230m pa.

If everything remains the same, in 2 to 3 years time we'll have as much cash on hand as our MC, with a resource and plant in place for another 17 years of production.

I'm fairly new here, so perhaps I'm mistakenly looking at this too simply. Surely?

All other asset classes are at sky high valuations.