Yep, AU$5.5B.Not a bad starting point.Then, as HeliosUK implies,...

Yep, AU$5.5B.

Not a bad starting point.

Then, as HeliosUK implies, you take a hefty cleaver to it - for mining, processing, transport, etc, etc. Maybe take a decent slice off to maximise the Grade-Tonnage Curve. (A shorter life, but a brighter one.)

Still a dripping roast.

Then again, reckon back that it's shallow, free-dig; all the processing is low-energy, simple mechanical, and the requisite transport infrastructure - rail, road, port - is already extant.

And factor in credits from other product streams, industrial aggregates, magnetites, REEs(?), vermiculite(?).

Hard to say definitively with so many variables in flux, but you'd surely be looking for a valuation north of HeliosUK's miserly $20/t margin/$500M.

In the end, it will be what it will be.

But, is it worth a punt, as Bluebird says?


Ooh yeah!

(And that's before including G88's blue-sky.)