ADT 10.0% $3.23 adriatic metals plc

Ann: Rupice Ore Reserves Upgrade, page-11

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    If they just extend mine life the additional capital costs will be quite low so additional profit/ cash flow will be a lot higher - if they generate $US200 m cash flow after tax ( it was that amount for the DFS) for another 9 years ie $US1.8b discounted @8%pa (used in DFS) then NPV using an average term of 12 years gives an NPV of about $US700m or over $A1b which is more than current MC. Not sure if ASIC will be lower but if it is then these numbers will increase.

    If resources increase from this level they may decide to increase plant size and then the NPV will be a lot higher.
 
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