Ann: High Grade Copper Gold Assays Extend Nugent Mineralisation, page-94

Great to see the Cu price rising.

For those into numbers and detail the Net Smelter Return which is what ends up in the bank is, on my reckoning, about 85% of price increases.

A close look at Blue Ocean's research paper shows why they are forecasting a big jump in EBITDA from $22.9m in 2024 to $84.9m in 2025.

The key takeaways from Blue Ocean that explain why that is so:

· Copper production up from 7.3Kt to 12.8Kt
· the increased volume smashes operating cost down from $5.65 to $4.11 (a drop of $3,394 /tonne)
· copper price up $777 to $14,635

Current prices are A$15,139

If we can average circa 85% of that in NST this year that will put EBITDA up A$1,365 on last year and lift Blue oceans forecast for 2025 by $504/t.

Their EBITDA forecast would rise to $90,4m ( 3.5c /share.) Nice !

That's just the beginning mining 2 of the 11 known lodes close to the plant with a lot of unexplored territory in between them and beyond.


Next year we should see a 30% increase with 1.8mt forecast to be processed . (EBITDA 4.5 c/share??) and a take over offer at a decent multiple of that.???

That will be followed by a 100% increase (9.1c /share???) as they fill the plant from the other 7 lodes and possibly trucking ore, if necessary, from the northern parts of the SE tenements.

Bring on a meaning full increase in Resources and we could trade at decent PER. and Bob can retire happy and well funded.