tastarga.... you da man..., page-12

re: i don't reckon they're a buy Hi guys, just had a closer look et the HER presentation on the Indonesian project.
This is no lay down for project financing-the prefeas talks about a 2.5 year payback on a 6 year minelife, is in Sumatra , inolves that wonderful metal called zinc which does not enjoy uniform global demand, has a suggested opex of 30 cents a pound-no wonder they never give any direct reference to potential capex anywhere in the presentation (simply overlooked, me thinks not!).
Note at 30cents a pound, and on any reasonable capex, this thing is not going to be profitable for some time.(read ,if ever developed!)
Why develop this one-why not re-open the Western Metals Leonnard Shelf deposits now owned by the septics?
The gold production from Coolgardie jv certainly cannot carry the market cap of $50 million.
Cheers,TAS
(A voice in the wilderness,now they are bound to go up!)