Cashflow after finance and tax $650m over 25 years, $26m a year knock a bit off for corporate overhead and expenditure for development of muchea given the resource is there for a 100 year mine life, call it a boring non-growth business and stick that on a PE of 10 and you get something like a $200m+ valuation suggesting 3x upside on Arrowsmith Nth alone better than I expected
PE of just 10, mind + seems very conservative on price assumptions
less equity finance dilution
IRR, etc all reduced as expected for cost increases but with an IRR of 35% that remains a very healthy project
Plus the much more financially exciting Muchea, and the rest
