Ann: Quarterly Activities and Cashflow Report, page-4

Not really. Go back to the investment decision. Effectively the numbers are $4.4bn of revenues at $104m EBITDA annually.

My gut feel is that it should be sitting at $750m - $850m market cap, with Tanzania and significant coburn extension the catalyst to push this further.

So at the moment the market has priced in some operational risk, however as per asx releases everything has gone smoothly?

Overall STA and Luke have done a great job operationally to get this up and on budget. However the corporate / capital raises along the journey were terrible, the timing of these capital raises did not look after long term holders.