From Argonaut mid last year. They were already modelling Luni to be 14Mt @ 2.5% (without input from P2). Annual profit $257m but that was modelled based on the price of around $40US/kg if my understanding is correct. Pete Rex’s recent update showed a price of $57 US/kg. MRE for the high grade portion will be multiple times higher IMO now that significantly more drilling and expansion had been completed.
I think a new broker’s report is long overdue!
Ann: West Arunta Project - Luni Assay Results, page-176
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