I think we will see 2 BFS. one for stockpile and open pit and then the 2nd for the underground. However not sure whether the 2nd one will include the iron duke.
The 2012 NPV is $212m if you change the currency to 75c.
We now have the quarry & head lease (royalty payment) but 1/2 of the stockpile. So I think it will come in $250m -$350m with plenty more to be added.
EQR Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
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