Ann: Interim Financial Report Half Year as at 31 Deecember 2024, page-64

Excellent find cormacart, thanks for sharing!!!!!!!!!!!!!!

To me, this is giving an indicative picture as below:

1) The current production Borora and Philips will produce approx 50M in next 16 months. This also means cost of mill upgrade, drilling campaigns, current debts etc as all taken care of easily without dilution
2) Successful demonstration of these projects gives us confirmation that this team (management, employees, SH etc) has the capability, motivation and desire to create SH wealth in a stable and systematic way (safe LT nature)
3) From mill commissioning our yearly profits increases by 45M in addition to our current level of profits - This may mean the yearly profits touching 100M (just a guess)
4) We have 16 projects to keep us going for a while going forward, but with further potential from drilling and expansion from cash generated, we are going to be a safe bet. Even if GP tumbles a bit, our profits could be substantial, sustainable and self funded.

What I like best is that all plans are simple and straight forward even without Silver or Nickel potential or LJ mill etc. We are in a niche area of relatively small projects which gives us immunity from TO by big players or big project players. Ability to manage multiple projects is a good skill with so much of opportunity still around the area. All just my thoughts, unfortunately all seems optimistic, happy to hear any contradicting pessimism if there are any.

I am wondering who would even consider selling with all the possible positives.

GLTAH