this now looks like one heck of a value play, page-11

The PFS had, from memory, a NPV of something like $3.80 a share and clearly stated that only certain class of resource was being included.

The selling has been a gross overreaction to the capital requirement and, I presume, an assumption that the capital would need to be stumped up by shareholders??

I have never understood that to be the case, personally. Further, the next phase would require minimal additional capital expenditure since the plant and equipment would already exist.

So, as new JORC rated resources come out of the inferred category and drilling continues to prove up greater reserves, the new resource comes at virtually no additional capital cost at all. The cost per tonne will also fall as a result.

Or is somebody going to tell me I have completely misread the the PFS??