Ann: Scoping Study Results Greater Duchess Project, page-98

Additionally, when debt funding is secured, it now becomes a de-risking catalyst for institutional investment OR given the feasibility study having been completed, a large miner comes along and purchases the company.

As they now have an idea of expected costings (or may determine their own costings) and can make the long term investment in operating the mine themselves. I wouldn't know the first thing about mine valuations, but I'd be relatively certain that under $100m to acquire CNB would be ludicrous. On a pure investment play, spending say $200m on CNB, $175m on production facility for a return of $491M post-tax over a 9 year mine life ($15m/year NPAT OR in my estimates upper estimate of $155m/year (on $1.4b NPAT)), now we have a very attractive investment. I'm sure that big players are looking at the scoping study making their own forecasts and making decisions as to if CNB is a worthwhile investment, but that is up to them.