one key thing is the time difference between reports. between dec 2021 and nov 2022 i think you could reasonably add on ~15% for capex costs escalation and this is evident across the market for miners/developers. so ARU has probably got this factored in whereas ASM has not (ARU also has contingency of 14% vs ASM 9.7%). i couldn't believe it when they said at the AGM they still think all the assumptions in the optimisation study still apply when labour and material costs have gone up so much across the country. given capex is upfront, this will heavily drag down the NPV/IRR
ASM Price at posting:
$1.43 Sentiment: Hold Disclosure: Held
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