Ann: Kanmantoo Economic Assessment Confirms Outstanding Potential, page-81

The market is definitely crazy, its proved that to me time after time.

The only things we don't know is:

* Whether Lachlan will be able to improve on a mid year restart of mine development. if he can't get finance elsewhere he just needs to convince the government he can create jobs earlier by diverting the MC51 onto stope development instead of finishing the decline which isn't on the critical path. It surely wouldn't worry Komatsu and the Government which 500m of tunnels constitute the trial.
* how soon he can fill the plant and lift the free cash flow from $100mpa to $250mpa at current prices and grades
* how high the cu price is going to go.

The economic study is telling us that at full capacity processing the MRE grades annual production will be circa 40KT cu . For ever US$1 lift in price the free cash flow jumps A$120m.

In a couple of years time HGO could easily be generating annual free cash flow 5X the current market cap.