The financial metrics always going to be hard to make this project look great given time to first ore (2.5yrs), capex ($90m) and the small amount of inventory allowed to be modelled under JORC (3.5Mt of a 10.0Mt resource).
On the spot case (above) the project generates A$444m FCF which is basically $90m/yr over 7years mining ($630m) less capex ($90m) and taxes (~$100m).
If they were able to turn 7yrs mining (3.5mt @ 500ktpa) into 17yrs (8.5mt @ 500ktpa) then that additional 10yrs @ A$90m FCF b/tax adds up to some meaningful FCF... but drilling closely spaced holes 1km deep from surface doesn't make a lot of sense.
The financial metrics always going to be hard to make this...
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Last
31.8¢ |
Change
0.008(2.42%) |
Mkt cap ! $541.6M | |||
| Open | High | Low | Value | Volume |
| 31.5¢ | 32.5¢ | 31.3¢ | $303.3K | 950.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 236601 | 31.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.0¢ | 236569 | 14 |
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| Last trade - 11.33am 16/06/2025 (20 minute delay) ? |
| AMI (ASX) Chart |