As a refresher ...
2Mt would be the ideal exploration target for EPM
10 years * 200ktpa mine life
We know the costings would be similar to the ROL example, which was:-
- capex just $10-12M
- opex $42-50/t
- selling high grade Mn at up to $200/t
It works out to around $30Mp.a in FCF potentially
For something capped under $12M, this is a gift
Meridian mining comparison, page-11
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