I have been told there is no such thing as a stupid question...
Is that EBIT figure a per annum figure or over the life of the project?
If it's over the life of the project then its only an NPV of 110m at a discount rate of 10%.
I am sure this has the scope to increase as they explore more around the area, but finding financing for this could be difficult in this environment.
useless, page-6
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