Ann: Board Restructure and Cost Savings, page-81

I would want to see a sale value of the project at a bare, very bare minimum 30% of NPV of the DFS in these tough 'bend em over' times. That is a bargain with a pretty good payback period. The sweeteners are great. They will likely uncover enough new tonnage to get a further 10/15 years of bonus production. Plus Downstream processing if possible would add multiples to returns.
I think the BOD has approached this project from an 'all options on the table' approach from day 1. Hence CHICO doing the free CAPEX costing. This will be of enormous value as any Chinese bidders would rely on that rather than our DFS estimates.
We would not have got straight into Downstream processing - no way. But the report if favourable will likely be a big sweetener to any potential buyer.
With luck the end of this crisis is in sight when the DFS is available..
Lets face it the resource at DFS stage has to be worth many times the current MC of around $17 mill. At 10 times our market cap its a steal. No way we would sell it for a measly $A170 MILL.
Remember when an NPV is quoted it is after the cost of CAPEX is deducted. So if you buy an NPV of say $A1200 mill for say $400 mill the difference $A800 mill (plus risks attached) is yours. The sweeteners are yours as a bonus.
A bit like buying a block of land with council approved plans attached to build your dream home with a sweetener of enough land at the back to build a unit. You may be willing to pay a bit more with the view that your backyard is an investment for the future.
My view only. What do others think.