Ann: $10 Million Placement To Fund Mine Extension Drilling, page-21

It also paves the way to filling the plant.

Struggling up to 40% capacity processing 1.4mt of 1.05%cu will deliver about $76m of free cash flow per annum at ES2 costs if we got there. With a three year mine life that has a value of about 10c a share. @3x cash flow.

Getting up to 2mt tonnes per annum increases cash flow to around $112m pa

The main prize is getting up to 3.3mt pa and generating $192m of free cash flow per annum with a 30yr mine life from the near mine targets.

That would get us in the big league and the possibility of trading at a sector average PER of 13.

Nice to see a Sp of $1.15 and dividends flowing in the not too distant future travelling on the very fast train.

Much better than farting around at 10c with a long and torturous journey and delayed dividends on the slow train to an undiluted $1.25.

Might even get a take over offer from BHP at a PER of 48 like OZ minerals up the road did.