Ann: Pre-Feasibility Study for the Isabel Nickel Project-AVQ.AX, page-126

That was what I was questioning, operating cost of 11US/WMT means that even at a current low nickel price it's +30US/WMT so positive cash flow of 60M USD p.a!!!!!!!, mining 2.2Mt of laterite nickel ore.
They can pay the capital expenditure start-up cost of 18.2M USD in 1 half easily (minus royalty, tax, other capital expenditure if they haven't been included in the operating cost. Why did they quote it <3 years and estimate AVQ with such a low NPV.
And nickel price is still at record lows, that article I posted makes a bit more sense it's around 20-25US/WMT and 40US/WMT in 2014 (when nickel concentrate price was around 8US/lb), can someone confirm????