Ann: Infill Drilling at Korbel Continues to Deliver, page-87

That figure is discounted NPV of after-tax profit.

This is highly-speculative and not advice, however:

• Conservative would be 30% payout ratio and 70% of earnings retained for growth.
• So in speculative scenario above steady-state NPAT is AUD $71M from korbel ( at 150 koz pa, margin per ounce USD $1,600 gold price, AISC @ USD $965 ) would mean AUD $21.3M as potential pool of dividends paid to shareholders.
• Payback unlikely to be achieved before FY2027 on indicative timelines we have been given and assuming a 2-year payback period.
• Dividend per share will be determined based on shares on issue once Nova achieves production.
  DPS = ( NPAT x payout ratio ) / shares on issue.

Below is the growth in NST dividend per share after they achieved production at Paulsens. So over about 8 years dividends grew 10-fold ( due to M&A, growth in resources and production ).