Agree that is a reasonable assumption on current Oxide and retreat leaching using about 10% of the Nifty resource.
Add the other 90% in the sulphide material and what valuation do we get when that scoping study arrives in H2 with a 20 year LOM?
On current shares on issue gives as per top20 at 555,219,214 shares
46,000tpa vs 25,000tpa
My maths gives us 54.348% production of that Cu
54.348% x $1.49B buyout valuation
Gives us $1.45/share using current figures
Of course there will be a bit more dilution when the convertible notes mature but we should be in production at that stage with some of the debt paid down.
Looks gooood.
Sulphides gives CYM the ability to produce excess acid to be used on the oxides. AISC will improve over time.
