Michael
The project has raised $50m to cover blow outs. The NPV has dropped by nearly $50m since November. The NPV still includes a underground that has had water in it for 30 years. Which will require another $60m of deferred capex.
Major dilutions don't usually push up the share price, especially when it's the 2nd one within 6 months and you aren't in production.
The pay back period has increased from 2.5 year to 5.5 years. Open cut is only 8 years.
The IRR has reduced from 38% to 28%.
The ongoing costs have increased from Nov 22 $147mtu to All in costs of $246mtu.
The proven process has only been tested in a lab!
These are the facts.
Big CR coming.....!, page-29
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