Steveo, take time to read what I wrote instead of saying you...

Steveo, take time to read what I wrote instead of saying you didn't read it then saying what I wrote is wrong.

Sure, Bass may have a C1 or C2 cost of US$500-600/t, but that's for direct mining and processing costs within the mine operation.

As I said, and will repeat now, firstly Bass is only receiving $1000/t not $1400-2300/t for its product.

Secondly, the full costs of Bass Metals Ltd are currently running $8M per annum. So the C4 (AISC) must be worked out on a consolidated basis, and it's fairly simple maths that $8M / 6000 = $1333.

This is the thrust of this section of my analysis. Bass cannot make a profit on a basket price of $1000/t when its costs - INCLUDING Australian overheads! - is $1333. Either it needs more revenue per tonne (which it is NOT getting right now) or it needs more tonnes - 12,000t+. Which it is not getting.

So, thanks for your query, but also remember Ballieu are brokers and promoters and will swallow the company line hook line and sinker. If it was paid analysis, it's simply paid press releases with a veneer of analysis, and I bet they glossed over the risks, and focussed on the simplistic C1 costs. Dunno, not going to waste my time reading premature toilet paper.

Also, Bass never published a Reserve, or did a feasibility study, so I don't know where they got their figures from except the company, and yet again, C1 or C2 costs a profitable operation does not make. Regurgitating company guidance is not analysis, but you don't get paid to tell prospective punters not to buy a share because you don't make money on the in and on the exit. And you don't get paid by companies for a dust up puff piece if you will can them.

Thanks for playing.