This may get overlooked because its boring or because its not up-ramping.
See below numbers of 5 PGM plays and their reported economics. I think many here can agree that it is disingenuous to pull out numbers for single or bi metal plays as a comparison. So hopefully the below provides some more unbiased data for everyone.
The POD scoping study is likely to report a CAPEX of AUD$700mil. By the time scale is built up to some real economic size in the PFS and DFS, this will be $1bill+ guaranteed.
Note: A PGM mine generates a poly metal concentrate for sale to smelters. For this reason you can expect price discounts for the recovered metals: 85% for PGMs, 73% for Copper and 68% Nickle. Obliviously this varies depending on metallurgy. Maybe plus/minus 7%. Also consider that recovery of each metal can be crudely estimated to be at 80%.
To put it simply, for a 1MOz PGM reserve only about 65% of the reserve is realized at the basket price.
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