IBG SP / VALUATION THOUGHTS, page-216

All good. Don't worry. I have done my research.
2). Sorry don't consider US$1.30/lb conservative to account for the cyclical lows of Zn. The price used by IBG is more like 80th percentile.
3). 4.5% Zn in that location is not world class. Red Dog is world class - 12.9%Zn and 3.6%Pb (and Pb which is recoverable)
4). They have to remove the Pb first to make a clean Zn Con, hence it's inclusion in the flowsheet. FS states Pb metal produced, but no target concentrate grade. They won't make a saleable con grade (which is likely why it wasn't included). Zn is included however at a 55% con grade target.
5). It has definitely contributed to making IBG worth more this week, but it doesn't make the mine more economic.