True but measures like this are a bit like valuing the precious metals on passing asteroids, youre never going to get all that.
The vehicle the vale comes from is the mining company which has a cost of capital, big capex bills, staff and taxes to pay.
NPV of phase one is under a billion AUD last I checked, which is why an earlier figure of 41c for phase one had me a bit confused.
The most attractive metric is how quickly the project will be paid back, irr will be great.
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