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clock Created with Sketch. 07/12/20
15:15
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Originally posted by Gazzajohn:
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First retort that I would like to make is that the capital structure has radically changed in this Update. The DFS was based on the process plant being constructed under an EPCM model. This has been replaced with the EPM model with a guaranteed maximum price. And the ore mining and transport in the DFS was owner operated. This has been replaced with a contractor based system for the per strip and first three years of mining. I consider these significant risk mitigation plays and worthy of increased capital costs.
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You can do all the sums you like but the AISC is pretty much the same as RRL and RMS but the anticipated production is far beneath theirs, as are the reserves and resources and yet the EV to Production ratio is about the same. I know what companies I find the better value at present.
Last edited by
jogo :
07/12/20
