Ann: Fremantle Conference Presentation, page-46

My bad I was referring to building a new plant , The HGO plant is not worth $540m its well used , was originally at a base metal mine in Northern WA , couple of my mates went and checked it out after it was shipped down quite a few years back , although as they told me they did not have a clue what they were looking at .
Its only me that thinks they have underestimated their costs , I do not know that with certainty as I am an amateur although I am getting the feeling you know even less than me about costings

On a serious note , hope it does work out for you and HOG sells out for over a 40 PE , I just can not see sub $50 a tonne mining costs being achievable so would actually be pleased if proven wrong , as would make me more interested in similar mining scenarios . Should get an idea in the next 3 or 4 months if they will or will not be cashflow positive ,
think their IRR was over 200% so what is than around 5 months minimum to pay back initial capex ?