Yes I've got an NPV closer to $2.5b on my working model. Pricing for a 'Leucoxene 75' isn't easily available, but I'd put it at around US$400-450/t assuming there aren't any contaminants or other quality issues.
We can take much higher confidence on the quality of pseudo rutile from this announcement today, and it has only increased my viewpoint on this being an outstanding deposit - and I don't think that today's closing price is a fair reflection on the significance of these results.
A few other things to note on today's announcement. I think that the 'zircon zone' is currently a bit of smoke and mirrors, and while I'd be very excited to see some zircon in this deposit, I don't think that the zircon aspect of today's announcement should impact share price (at this stage - pending further drilling).
Very excited to see how the next few weeks play out.
PTR Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
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