Ann: Black Rock Signs Conditional Framework Agreement with Urbix, page-27

This will change slightly given bringing forward of module 2. Means we start at 2Mtpa, I assume move to 3Mt and then 4 within the first say 3 years. So you essentially have 2 + 2 + 3 + 4×23 =99Mt processed in a 26 yr LOM.

Current M+I stands at 116Mt. So assuming 90% mineable which it should be in those categories that covers the whole LOM. There is another 97Mt of Inferred. If assume 50% conversion of this then that adds another 12 years of LOM at 4Mtpa. Note production from a theoretical year 27-38 adds SFA to an NPV calc.

Then as @scombley pointed out there is a heap of further exploration potential on their tenements.

All said and done it might be a 50 year operation. Huge in the context of fact its trading a couple times initial stage 1+2 cashflow.