re: Ann: Little Eva Definitive Feasibility St... Interesting...

re: Ann: Little Eva Definitive Feasibility St... Interesting result. I was expecting a bit more in the way of savings than only 8%, but I'll take what I can get. I guess costs are still high in Qld even now.

What scares me is the sensitivity analysis, particularly the copper price assumptions. If copper goes back to $3.50, it'll be a cash cow, but if it drops below $3, the NPV is annihilated.

That's the risk with high volume, low margin operations. They are much more vulnerable to price fluctuations than lower volume, higher margin stuff.

Hopefully they can find a partner on the basis of this. I am generally against large scale spending on Roseby but I would definitely like to see a couple of million devoted to a drilling program to get Turkey Creek up to at least a JORC resource. As with Finland, mine life extensions will be critical - probably even moreso here with a lower forecast IRR.