Cashflow after finance and tax $650mover 25 years, $26m a...

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