4.1 mln Oz - Is moment to make a Pre Feasibility Study, page-9

You would have to think to obtain funding, ANL would more than likely have to 100 percent hedge against production.
In most cases first year production is never achieved.
And almost assuredly there would have to be a 15 percent derisk alloted to the project.
Production costs initially would be higher as they always are ,circa $US 1250.00-$US1500.00 per Oz.
Failure to produce the nominated amount is more a concern than production cost overruns, given the hedging.

Number of Oz production per year.
Cost of Mill
Mill plant costs
( all in costs )
Mine life
Number of shares
Minus 15 percent risk factor.
Sales price achieved ( hedging price locked in )
Not sure but I think the DRC govt., only have to fund 15 percent of project ( stand to be corrected ), even though they have 30 percent of the project.
Royalty cost
Taxable income
Interest costs ( should be low in the current environment)
Shifting to underground costs.

Raider