1billion?, page-14

teatimenow

coming up with an npv is easy. there's nothing odd about the numbers, it's not a case of believing them or not.

they are estimates based on
- what is known about the orebody so far, grades/strip etc,
- industry opex costs and capex costs for similar developments
- and estimated recovery and payable rates

in Canada or Australia, this is par for the course.

I actually think hartleys have been pretty conservative
- 14% discount rate
- 65% payability
- 85% recoveries
these are conservative numbers

what is unknown is whether the tonnage will be there ?
and I don't know either, but
- the mkt seems to think so,
- the large shareholders that I know seem to think so
- and the drilling so far is backing up the initial targets (non-company targets)

we'll all just have to wait and see

good luck with your short