Ann: MOUNT MORGAN SCOPING STUDY CONFIRMS POTENTIAL FOR OPERATION, page-10

it being a tailings project, you would comfortably say that there's higher confidence in the contained resource than what traditional JORC ratings would imply. Hence, being able to look through that table and see that with very little or cheap proving up you wouldn't have much stress about whether the tailings contained the claimed gold/copper

if I take the JORC rated part (329,000oz) and assume no pyrite, so $707 cash cost against the $1250 assumed gold price, I get somewhere around $96M project value after paying the $82M capex (obviously some sort of discounting for an NPV required, but this is just back of the envelope stuff).

Even realising a quarter of that would be 6 fold from current share price. definitely potential starting to show in the announcements.