Ann: Dargues Reef Gold Project - Robust and Viabl, page-4

re: Ann: Dargues Reef Gold Project - Robust a... Assuming the price of gold stays at $1150/ounce and CRC's extraction costs remain at $470/ounce (even though this should reduce over time)

if they extract 45,000 ounces/year that translates to $30.6M/year profit. discounting back to today gives with a cost of capital of 8%gives us:

30.6m 30.6m 30.6m 30.6m 15.4m
1.08 1.16 1.25 1.36 1.469
28.33 26.23 24.29 22.49 10.48


NPV = $111.8M profit
less initial investment of $30M
= 81.8M