Ann: Commencement of Growth and Discovery Drilling, page-4

Cheers for sharing.

A few interesting points that are raised in this report, but weren't emphasised in others.



Firstly, AZY'S 33% share of Citadel JV has been given a valuation of $73.6 million.





Also, the trucking ore to Telfer for processing scenario increases the NPV valuation by an additional $208 million to $600 million. But this still doesn't take into account that the gold price used in the scoping study $2,430 oz, is $480 less than today's gold price, which would be an extra few $hundreds millions of value. And the copper byproduct which is 100% metallurgically identical to Telfer ore, would surely add $hundreds millions of value.