30 second review.
Capital costs - increased... $30m (seems to be the trend) Lumping Stage1/2 together?
Plant upgraded to 2.1mtpa
Reserves up to 1m (good)
AISC slightly reduced (good)
Mine life, 10 years. Impressive.
60% of the gold is in open pits (good)
Production profile (a bit more variable than I expected. Lower production early on, much higher near the end)
While dilution has to occur, its going to be interesting to see how they manage it.
My guess is they will need to raise approx $60m. Deb facility, $130m.
Happy overall, though I do have a bit of an issue with the lumpiness of production.
Not sure what will cause the market to rerate BDC. But at a guess, more patience is required.
