Haha, I removed it myself, my EV/oz of reserve figure was probably a bit too generous. It wasn’t fairyland but it would have been a bit challenging.
The PEA is working on 1.84moz, we’re now at 2.239moz. And it provides a sensitivity of gold at A$3,500 for a $1.08B NPV7 vs $388m at A$2,650.
If you did a linear extension of that NPV using A$4,500 gold and the current 2.239moz resource you’d get an NPV of around $2B. You can’t do that kinda of blunt lineal extension but I’d strongly suspect a $2B NPV would be in play due to the exponential economics of this bulk scale low unit cost project. And that’s not even considering the higher grades we’re hitting…much higher grades.
Put a 30% multiple on the PFS NPV and we’re over $500m MC at PFS.
This is why I deleted my last post, it seems too generous. Although I used an elevated EV/oz approach to get to a similar number, whereas here I used a very, very, crude NPV approach.
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