Ann: Makuutu Rare Earths Project Scoping Study, page-192

SF2TH is correct.

Indicative NPV calc below for all those who are interested. In the example below, an extra 4 years of production adds around 250m NPV.

The numbers don't exactly match to what SF2TH (likely due to rounding)... but the main point is that production outside of the base case 11 year mine life MOST DEFINITELY adds to the NPV of the project, otherwise it wouldn't have been noted as a potential upside in the Scoping Study!



@bsumsai you may be thinking of DCFs with existing terminal values built in... this is a mining company, therefore there is no terminal value.

Lesson to all - DYOR, fact check everything, don't believe everything people say. (Don't believe what I'm saying right now without fact checking it yourself first)