So about a 63% conversion. So if went with the same logic for CLA - I am going to ignore upside drilling as I think some of that replaces inferred resource at depth - we could use CLA as 70Mt reserve (I realise this is a bit loose at this stage).
I still argue 4Mtpa for CLA is equivalent to 5.25Mtpa for COB. So that gives 17.5 years LOM at what I expect to be a lower capex (primarily due to size differential).
That should help the NPV and IRR.
Ann: Further Testwork to Enhance Opuwo Scoping Study, page-422
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