Ann: DFS on 3.04Moz KGP on track for delivery next quarter, page-233

OreCorp DFS had a Pre-tax NPV5% of US$926M and IRR of 31%; post-tax NPV5% of US$618M and IRR of 25% based on a US$1,750/oz gold price. They've sold out at $270m. say 1/4 of pre-tax NPV or 1/2 of post-tax NPV

Our PFS forecast back in Aug22 based on the 1.28moz indicated:
Post-tax NPV5 of A$364M based on a measly gold price AUD$2300/oz.
With an AISC of approx $1500/oz , a lift in the gold price to AUD$3100/oz would DOUBLE the profit /oz, resulting in a POST TAX NPV of $620m
plus the extra ounces.
Let's see if they can increase production in the DFS from 105koz pa

We really should be sitting at a market cap closer to $180m now (50% of pfs post tax NPV, in line with orr t/o), especially given our superior location.

So DFS due within a couple months. Take Over bids starting August?

You'd think someone would be trying to take a good chunk at the current price.

If the DFS is inline with expectations, we should see T/O offers around 15c a share, the Aug22 pfs work should already command a share price of 7.5c