The numbers look good at todays prices.
Running the plant at EA 23's 40% capacity target processing 1.4mt pa at a feed grade of 1.1% cu. delivers free cash flow of
* $98m at EA 23's cost assumptions plus 5% escalation.
* $111m if cut off drops to 0.4%
* $170m if enough stopes are opened up to run the plant full at a cut off of 0.4%
* $242m if enough stopes are developed to run the plant full at 0.6% cut off.
Hedging effects ?
Ann: RIU Conference Presentation, page-55
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