Glad I topped up this morning. Some snippets from the...

Glad I topped up this morning.

Some snippets from the announcement below:

“We recently submitted the Program for Environmental Protection and Rehabilitation
(PEPR) to the South Australian regulators and anticipate approval of the PEPR
around the end of the current quarter. This will enable the project to be in​

production next quarter."

DFS SUMMARY RESULTS
Annualised Production (Average) ~20,000 ounces
Capital Expenditure $4.0 million
Average All-in Sustaining Costs (AU$/Ounce) $916
Commencement of construction and production Q4 2016
Mine Life 2 years
Treatment Period 3.5 years
Gold Recovery 95%
Return on capital invested over project life (pre tax) >350%
Ungeared, pre tax NPV7.5 $39.6 million​

Contained gold in Ore Reserve 71,000 ounces

I've highlighted some of the juicy bits above.
This AISC for Tarcoola will be very beneficial for lowering our overall AISC at Challenger. Which should achieve below $1200/oz, in my view.
So, Challenger should be producing at the ~ 70,000 oz/year rate (from next quarter) and a margin of ($1700-1200)= $500/oz.......providing around $$35m free cash flow