CMM are in production and have more reserves. There is no reason why we can't get to around $1.5bn once we go into production, assuming the estimated geological model proves correct. I am not an expert, but all the various announcements seem to give confidence to the geo model. Our Capex outlay is small-change compared to NPV, and arguably we could/should raise via Debt rather than issue any more shares given how attractive the Capex/payout ratio is.
Ann: Group Mineral Resource Increases to 1.62 Million Ounces, page-9
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