Ann: Hot Chili Presentation Costa Fuego PFS Maiden Ore Reserve, page-27

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ironoreman

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27/03/25

13:16

Post #: 78440534
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Originally posted by JGPM: ↑

projects of this scale are always expensive to build.

the extra capex is more then offset by the increase in price assumptions and slightly increased recovery in by products like moly.

the IRR at 19% is really good these days for a large scale long life copper project.

all in all a solid result. someone else (a strategic partner) will fund a large portion of the capex and (hopefully) offloading the water (yet to be released in the next day or two) will fund a large share of our up front capital.

90% of companies (that I have seen anyway) who release their PFS have negative reactions from the market on day 1, but once digested (if decent) rally in the proceeding days and months.

This is a decent result from the team in my opinion.

OZL was sold for $9billion at much lower copper prices. So the equation for someone is to buy this project for say $500m+. Spend $2billion on it. Production is on par with what OZL were doing. So turn $2.5billion into $10billion. Pretty simple really. This would be appealing to a mid tier or major.

Expand

Capex with expansion is US$2.5 billion without contingency costs..

HCH Price at posting: 71.0¢ Sentiment: Hold Disclosure: Held
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Ann: Hot Chili Presentation Costa Fuego PFS Maiden Ore Reserve, page-27

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