Ann: Trading Halt, page-45

To help us consider Watershed's NPV, a 2014 analysis of TGN’s flagship Kilba project (https://www.breakawayresearch.com/research-portfolio/tungsten-mining) states that: “Based on a tungsten price of US$440/mtu APT, average annual production of 154,000 mtu over a 7 year mine life, recovery of 80%, capital cost of A$56m and average LOM operating costs of US$212/mtu, the project NPV was $36m.” Watershed’s average annual production of 314,000 mtu (over a 10 year mine life) is more than double that of the Kilba project... DYOR, GLTAH