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1.4¢ west wits mining limited

Ann: DFS Delivers Strong Results on 1st Stage of WBP Development, page-135

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mcreek

586 Posts.

105

02/09/21

19:59

Post #: 55792362
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Originally posted by Catch2200: ↑

"First ore is expected to be extracted 12-months from the commencement of development, building up to an annualised production rate of 25,000 oz Au per annum after 30 months and reaching a full steady state production rate of 53,000 oz Au per annum after year 4."

First ore extracted doesn't mean first gold pour to be clear. That's later in the DFS - "Time to First Gold (incl construction): 22 months".

I think that about sums it up. It's a long road from here.

Combine this with a generous discount rate (7.5 is the close to the lowest I've seen lately - even 8 is low IMO, I think 10 is more realistic) to produce a mediocre NPV and you've got a reasonably disappointing DFS. At least they included NPV sensitivity analysis so you can see the difference it makes.

Yes I know this is just the shallows etc. None of that changes my view. Mining post-shallows is so far away that it doesn't really factor very much at this point.

The AISC is good at least, I'll give them that. Better than I expected.

I'm glad I kept watching and waiting for the DFS.

Takeover looks like the best outcome.

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You got things wrong and missed the point on others. And no I’m not going to elaborate. Check back in 12 months and we’ll talk.

WWI Price at posting: 5.7¢ Sentiment: Buy Disclosure: Held
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