yeah very likely the CAPEX will scale favourably going forward as a lot of the initial CAPEX is dump trucks, shovels etc which they won’t need to expand 1:1 with upscaling.
Your 150% increase looks on point as a guesstimate.
Some people think I am too positive and I guess I have the luxury of buying in at lows and no cash flow needs. I still think the upside here is substantial (as you seem to indicate as well) especially as they will be able to achieve higher grades with RPM and other potential high grade targets in Korbel.
Ann: Korbel Gold Project Starter Pit Scoping Study, page-230
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