check out sdl-eio oneday, page-5

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The basics to do your own NPV model are out there.

You can easily use the SDL template as they have released a lot of info.

Capex and establishment costings, I estimate, would be higher in the lesser developed Congo, than they will be for EIO in Nigeria.

Extraction costs and sale price estimates are available.

Again, I would suspect the extraction costs would be less for EIO (they sell very cheap Diesel in Nigeria!)

For my further amusement, I need costs for transport (cost of reactivating Railway or other transport options); also costs for the use/non-use of the Benefaction Plant (I have dismissed the involvement in the Steel Plant) to get a more accurate picture.

But I expect the answer to these to be positive rather than negative factors viz the SDL model.

We will see the colour of interested money when the assay results are released.

I reckon the key to trigger a big boost in NPV is the resource size rather than the specific grades, as those are pretty well known, given the extensive drilling and previous exploration/development investment in the area.

Neither the Russians nor Indians would have invested such huge sums in the past, without being assured of the resource availability.

From my reading of the problems the Russians and, later, the Indians experienced (BTW: worth pointing out that the Indians were Arcelor Mittal, not exactly amateurs in the steel game) were essentially due to an over-ambitious resource and manufacture development program, without the human/technical resource base.

This happened a long time ago and things have changed dramatically since then.

Not the least, the emergence of the Chinese PacMan!