That "valuation" is completely meaningless, in the absence of a cash-flow model, supported by a schedule based on a mine design (and that includes all production headings and productivites ameliorated for ventilation, access and haulage, kiddies), that includes sustaining capital. The operating and capital costs quoted are fanciful and there bain't be no mill nor examination of a processing solution.
Sayin' "but that's how we done it and wot it cost ten years ago" don't cut it, particularly when ten years ago didn't work.
The above requires current and recent mining engineering technical expertise. Not a superannuated shift boss (*hint: the limiting factor on an underground mine is ventilation). The valuation "expert" is a geologist, as is him wot signed off on the *ahem* mineralisation "estimate" and mining inventory. And I dinnae think that Old Mate has kicked a rock in a veeeery long time.
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