Ann: Blackstone Merger to Acquire World Class Copper Gold Project, page-201

I like how SW has managed to turn IDM's "decent" deposit into a world class deposit simply by paying for it in script.



There's a lot of good information, although with dated numbers, in the 2022 valuation report conducted by Sahara when IDM were trying to flog part of the project off to BDO Corporate Finance (WA). Eleven options were considered to get the project off the ground, with a few of those options trying to leverage off potential FSE infrastructure (a now shelved and better project). I guess SW has come up with a magical unicorn 12th option that wasn't considered.



Granted gold and copper prices have jumped, but so to have costs. I think I've seen this play book before.

"Trust me, we have partners that will cover the US$500M-US$1400M capex and we will be in production within a few years".

Trade it all you want. Trust SW, never.

Where's the DFS SW?