2017 DFS Projection

Jvest decided to have a crack at the revised DFS fundamentals pre release:

I've worked through the fundamentals of the 2015 DFS & come up with the possible upside revisions:

Avg. ann. production cashflow - A$942m
LOM Cashflow (extended to 34 yrs from 17 based on V resource extension) - $13.9B
NPV (includes minimal 20% Tivan effect-major upside) - A$5.9B
IRR (includes minimal 20% Tivan effect-major upside) - 45%

Assumptions:
EIS in approval complete for Peake in 2017
EIS approval complete for Tivan refinery in 2018
Ti offtake agreement complete in 2017
NAIF funding of $50m complete in 2017
German ExIM financing deal for Tivan refinery complete in 2017
Downer/Catepiller equity in Peake build agreed as part of Peake finance
2 year timeline build for Peake including Refinery

Clearly, Company value & SP will be contingent on all assumptions being completed.

If we achieve these financials, they would be outstanding.

We are close, very close.

Just my thoughts.

Jvest.