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Ann: Appendix 3B, page-50

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    lightbulb Created with Sketch. 479
    Its not the same though.

    That 8% discount rate doesn't come out of the cashflow and reduce the IRR in that BFS. It merely discounts the cashflow cumulatively each year to come up with the NPV figure. 

    An 8% loan repayment on 60% of the capex for a set loan period hasn't been physically modelled.
 
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