There’s not much wrong with it tbh.. the key is getting federation into production - at 16% ZnEq using US$3k/t and 66c AUD you are looking at A$725/t insitu and probably A$450/t NSR rock.. costs probably A$200-A$250/t so let’s call it A$200/t margins on 600ktpa (A$120m).
This is a far superior deposit to that being sat on by AIS 29M DVP et al who have market caps well in excess of A$400m. Can they buy AMI for A$200m (16cps) using their scrip? Why the f not? Buy it for A$200m put A$100m to get federation into production and then get A$120m+ for 6yrs+ (open at depth and Cobar deposits go deep).. seems like a decent deal to me??
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