Ann: Arrowsmith North Updated BFS, page-146

Your maths is not right.

1. The Npv is UNGEARED so way overstated.

2. The number is based on 25 years of production.

3. My guess is no profit for at least 4 years as depreciation and loan repayments will be worse than expected.

4. Cash flow will be crash flow as money generated will be needed to fund Capex at muchea and central.

Be a bloody long wait as the market will work that out.

I am also really concerned that our messiah has absolutely no experience with producing and delivering sand. Hopefully the arrogance will step aside and pass the reigns onto someone that knows what they are doing. But I doubt it.

I am so annoyed with this stock. So much promise yet like a lot of other badly run asx companies, ego and arrogance rule the roost and under deliver.

Imho & dyor