BDR Basics (FA), page-4

On a side note. NST is currently valued at $3.3bn with production of 570k ounces at AISC of $800. Just more justification if we get things right and hit 200k ounces at less than $750 AISC we can justify a $1bn MC at current POG. Then if we go multi-mine in the next 3-5 years who knows what is possible.

However for now, just for you Atomic. The bull case.

	Column 1	Column 2
0	Head Grade (g/t)	1.60
1	Throughput (t)	4,300,000
2	Recovery Rate	90.00%
3	grams per troy ounce	31.10
4
5	Ounces Produced	199,080.47
6	Sale Price	$1,500.00
7	AISC	$700.00
8	Production Revenue	$159,264,379.64
9
10	FX rate	$0.60
11
12	Production Revenue AUD	$265,440,633
13
14	Less: G &A	-$20,000,000.00
15	Less: D&A	-$25,000,000.00
16
17	Taxable Income	$220,440,632.74
18
19	Less: Tax @ 15.5%	-$34,168,298.07
20	Less: Royalties at 2%	-$5,308,812.65
21
22	Net Income	$180,963,522.01
23
24	Cashflow	$205,963,522.01