Ann: High-Grade Depth Extensions at Jericho, page-37

Group cashflow will be impacted due to development of Jericho. This company's story, at least my primary reason for being invested, is hinging on the development of this resource. So yeh, outside of big moves in copper price and sentiment I don't expect a big rerate until we get this online or close to. It is otherwise an appealing value play.

As others have mentioned and stated in the feasibility study, this mine development will likely reduce ASIC per lb. Looking at the development plan the main target is closer to surface. The heat isn't as intense and infrastructure to support that therefore won't be as expensive compared to going deeper. This will add significant value unlock for the company and therefore once development is largely complete and the other Gray area of processing is sorted out. We can look to improved cashflows as scale increases and cost of extraction goes down.

Although I also am of the opinion when I started buying in the high 20s here it was unfairly beaten up despite being a deep (expensive) producer. And this price you could say it closer to fair price if you only consider Eloise as an asset.

Ignoring Jericho, which is where future value lies for this company, is missing the point as to why this is such a great value play. And not to mention the quality management, especially when you get little surprises like lens 6 on our existing resource. And their transparency, experience, etc.

If CSC is one that you have identified as better then I don't see many others listed. So perhaps you want to suggest, "few", in terms of better opportunities on the ASX.