Ann: Positive DFS Confirms Viability of Tembang P, page-6

re: Ann: Positive DFS Confirms Viability of T... Hi All,

Would like to debate this issue given two points.

1. $1500 Au assumption, pretty typical of a DFS, but if you plug in $1700 au then the IRR does improve obviously the more the better.

2. Also assuming this is a standalone project, and that 146koz from UG will be depleted in 3 years, which as we know and as plough has discussed elsewhere these epithermal deposits almost always continue at depth, remember NST started with a reserve of just over 100koz and look at them now....

The question at hand really is, can they get the capex via debt or at least a majority of the 38 mill via debt, with Provident as a backer this looks pretty likely to me