A PFS is largely an exercise to show the robustness of a project. The RXL Scoping Study used a base case POG assumption of $150 less than the prevailing spot price at the time and nobody was screaming how outrageous that was. Well, right now $150 below spot gets you at around $AUD 3,000.
I would be very surprised if the POG was hovering around $AUD 3,500, which is extremely possible within the current macro environment, and RXL hit the market with a PFS showcasing a base case POG of $AUD 2,500.
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