Agree the distinction is important. The oxygen plant is a big part of a POX circuit and also a big part of it’s running cost. I did say A$150m for a POX circuit isn’t out of the question rather than say it would be orders of magnitude higher based on other projects. No double accounting on my part. If you assumed the capex for a POX includes an oxygen plant, then appropriately recalibrate the POX opex if using Copler as a reference rather than stating that opex for POX in the Pilbara will be higher. Another case in point is that power cost are quite cheap in West Australian if you’re running off natural gas generators and solar. Readily achievable in the Pilbara.
DCFs have an element of subjectively. But try finding another greenfields gold project with a generally conservative NPV(8)>$1B, and plenty of exploration upside in the greater Hemi exploration area within <25km radius of a highly likely processing hub. I’d be adding A$200/Oz to the EV for any additional ounces found at Antwerp, Scooby, Alectroenas, Mt Berghaus, Amanda, Shaggy, Wingina and Frillback alone. And GOP keeps going up and will likely stay up for a while.
Agree the distinction is important. The oxygen plant is a big...
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