Ann: Presentation - Metal Events Rare Earths Conf, page-3

re: Ann: Presentation - Metal Events Rare Ear... "great picture of management on pg 14."
So we will progress by leaps and bounds? ;-)

Revenue p 9 seems to repeat the DFS - i.e. does not inlcude the higher revenue from single REEs (instead of concentrate) and improved recovery rates, nor otoh the currently lower market prices. Which means there is loads of upside to be had once the world economy seriously recovers. Even so, capex will be recovered within 3 years of production. Shopuld be a no brainer for financing loans ...


Looking at costs on p 16:

First, lets repeat that this amount includes 166 mio contingencies.
Second, I think there is a good chance of bringing capex down with the mining industzry not running hot any longer. YTC lately said in interviews that prices for their Hera mine building program are slowly coming down and they are confident to get serious cost savings for their Nymagee mine that will be built later. The same holds true for Tomingley (on budget) and should hold true for the DZP.
(OTOH, you got to add 20mio for the FeNi plant - but that will add to income)


What I am missing among the founding sources:
Once Tomingley is paid for and up and running, we should have >50 mio cash left. Add >10 mio profit from Tomingley in 2014 and 20 mio in 2015, thats 80 mio cash we can spend on the DZP.


Unless, of course, we do a share buyback. Which I would like to see at these levesl (buy them below 0,50, sell them at 1-2 AU$ once all the permits are received, all MoUs are converted into fixed deals and the other financing elements are locked in ...)

In a perfect world, I could see the buyback combined with a gold forward sale (sell 1/2 of 2014+15 gold production for Alk shares) ...