One of the standout point for me was an 11% increase in the gold price above base case assumption to $3500 results in a 46% increase in the overall npv for toll treatment to $55m and 58% for the stand alone operation to $66m.
So only $12m funding required for a pre tax Npv of $55m for a toll treatment operation. Thats a 320% upside of the current mc. And that’s only for steam engine. If the gold price continues to rise and the resource expands the npv will be looking very attractive relative to the low capex.
The funding plan side of things was annoyingly sparse on details but I’m personally pleased to see he plans to appoint a corporate advisor to sort out the funding side of things.
Im going to be watching spq a bit closer now and will thing about buying back in if it looks like this is going to progress at an acceptable pace and not continue to be riddled with the delays and problems that have plagued the company recently.
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