Ann: Medallion & IGO enter exclusive negotiations on Forrestania, page-3

Further thoughts on this, the more I think about this deal the more I like it.

Rough guesses I reckon $15m upfront to IGO, $15-20m for gravity circuit and CIL tanks. Maybe $20-30m for decline. Some money for tailings dam etc. I would say sub $100m capex.

Cosmic Boy is a 600ktpa plant. So 9 year LOM. Production of 75koz of gold and a shade over 3kt of Cu. Should be sub A$2k AISC. Original SS was like A$1,600 and this is using higher grade subset, but UG mining and trucking. I would guess >A$1,500 margins (at spot) on 75kozpa. So A$100m+ pa

Already got most permits, plant additions are easy. I think possible to be producing in ~2 years