1.9m MTUs for $425m AUD is at $315 USD @ 73c not $340 USD @ 70c And I think there is an 8% discount applied to the BFS which I have to assume is applied to that $425m. (which may go some distance in closing the gap between my first and second numbers above.)
The upgraded resource has 7.6m MTUs BUT only a portion of that total 7.6m will be included in the updated BFS. However I think it is a reasonable assumption to expect the majority of the increase (784,400MTUs) will feature in the updated BFS. We know the low grade halo is right there. And the western extension was drilled out primarily to increase the pit size. The lower cut off grade may cover a larger area that will not all be included in the BFS but obviously the EQ team have been working to increase the BFS resource not outside resources.
And as to your comments around exploration potential/other resources, take Iron duke. Current resources are [email protected]% containing ~25kt or 2.5m MTUs. In ground value of 2.5mtu @340 usd is currently $1.2b AUD. I would take a guess that current MC attributable to iron duke is 0.
EQR Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)