@PhillW Info re Manbarrum.
BML acquired it in 2021 with the view to processing the metal at Sorby Hills, making the potential addition of a Zinc circuit economic for Sorby Hills and Sorby Hills Alpha Zinc Domain. The greater the price of Zinc the more likely this is the case of course. The business case was set out in a Rawson Lewis report here and focuses on the Sandy Creek deposit as the most likely addition to Sorby Hills mine -
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://boabmetals.com/wp-content/uploads/2023/02/20210730_Rawson-Lewis_Acquisition-adds-exploration-upside.pdf
I accept that you might exclude the Djibitgun domain (which I have at 7M Ag ounces plus base not 10M as you have in your model). However, my view is that with where the price of Ag is going that will become economic sooner rather than later, where the mining is shallow and the process done at Sorby Hills too. I do the same with all the companies on my list. I include all defined deposits, many of which do not even have a mine plan let alone a DFS, so there is no certainty concerning economics for all of them at the current commodity prices.
The other way to do it is to include only ASX companies that have RESERVES, that is only then SVL and BML in Australia and KCN and ADT with reserves overseas.
