Ann: Presentation (Euroz), page-79

Rockfall, judging by the chart, it does seem to be a massive pain.

Though unlike the last BFS perhaps the Gold price being 1750-1850 range will surely help the economics.

For me the key is stage two AISC, last study done it was near 1510aud... that needs to be maximum 1300aud, and they need to add another 50-75k oxide ounces, which is indicated from Mt Joel, that they will, should increase NPV 30m.

Study at 1600 shows the project isn't viable as per below BFS.




Right now it is a guessing game, but all in all, from a risk to reward IMO it very solid. Especially when you see the multiples that our peers are trading at, some near 15x.

If Echo can average over 9 years 1200aisc @ 1800 Gold = $600 margins, price of the stock should be alot higher. Lucky with have NST behind us too.