Ann: CZR to sell interest in Robe Mesa Project for $102 million, page-48

remind me again why this is being sold for $102m?

In October 2023, CZR released the results of a definitive feasibility study of the Robe Mesa project identifying exceptional financial returns with low costs and strong free cash flow.

The base case life-of-mine free cash flow was estimated at $419m, with a net present value of $256m.

The study suggested that financial returns could rise to $1.3 billion free cash flow at current iron ore prices, with a 62% base case internal rate of return rising to 159% at current iron ore prices.

The company also reported updated ore reserves, with an increase from 8.2 million tonnes to 33.4Mt, while production rates were increased from 2Mtpa to between 3.5 and 5 Mtpa.