Ann: Fenwei Market Study Findings, page-17

Beau's and Jeremy's posts got me thinking - and researching a bit. I found an assessment by Argonaut (investment firm) based on the 2019 pre-feasability assessment performed by Aspire (I think) - link here - https://aspiremininglimited.com/wp-content/uploads/2022/06/20190307_Argonaut_Aspire-Mining-AKM-Trucking-models-redefines-Ovoot-Snapshot.pdf

I've used the assessment as a base for assessing the project's annual income and ROI. Because the data is back from 2019, I've assumed that the capital and operating costs will be 30% greater (probably a bit pessimistic). However the price of coal has increased substantially from the $150US per tonne that was the assumption back in 2019. So the project is even more viable now. I've used the production volume from the Argonaut assessment, unaltered (54 million tonnes over 12.5 years) and have not allowed for tax or loan repayments - this is a back-of-the envelope-type exercise I'm doing here. Here's how the numbers look:



If I've made any mistake post away - and happy for others to develop the thinking further. Because there's still financing and other things still to be done, I'll leave it to each individual to figure out what risk factor they're happy to apply. And if you want to compare this in any way to the current AKM share price, you'll need to remember that the above figures are all in USD while the AKM SP is in AUD.