Ann: Pause in Trading, page-200

Thats definitely the best point of reference so far. Particularly look at the NPV scenarios on the different mine options for AK. VEC's respective NPV for 60% ownership ranging from $37m - $232m depending on which option taken at assumed gold price of $1,300 US. Now that looks ok but they haven't factored in how capex is funded and dilution to the point of production. The DFS will be a big defining factor (obviously) as it will shed more light on what option they plan on taking regarding the mine and what the previous $760 USD cash costs per ounce will be once more inline with the now widely used AISC metrics that came in following the original feasibly studies 2013/14 onwards.