Agree with many here that the DFS may be upon us before too long, and all the parallel work may shorten engineering and FID periods to allow construct and commission as quick as possible (thanks
@larrygerry, 2023 ore supply commencement eagle eye).
PFS Refresher highlights in images below.
Note Ni & Co figures to directly compare to more recent preso's are the '(X metal)' AFAIK.
PFS: Annual ore processed 565 ktpa; DFS 1.5 mtpa (x2.65 increase). Don't forget our ore agreements are slightly above this now.
Of course, since then, all the inputs and outputs will have changed.
+IVES: HPA revenue (wasn't factored into figures?), nickel & cobalt prices up, $ from engineered fill residue/no disposal costs, exchange rate has been higher, efficiencies discovered during DFS works, ESG credentials and greater emphasis at buyer end (eg Euro battery passport), change of gov
-IVES: inflation, gas prices, labour supply, shipping
I'm expecting the positives to outweigh the negatives.
With 2.65 input increase, my NPV8 pre-tax conservative cap on A$1.8 B, but expecting a 2 as the first number.
It's all IMO, and I'm sure there are many other permutations out there.
