Management is citing a $1.6bn pre-tax NPV, 65% IRR and 3.3yr payback. These are impressive numbers on a project very derisked with mining licence now in place.
Given what's generally happening in REE markets and the strategic importance of this project (for Australia and particularly Victoria!!) I would have thought FID is virtually assured over the coming months.
Of course another equity capital raising is expected, which whilst large in the context of the current market cap of $67m, is likely to be peanuts relative to the prize.
Indeed, a strategic partner or offtaker might surprise as to what price they subscribe for equity.
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