General data, page-881

Mate, they've invested $250m to get a tier 1, long life, ultra low op cost profile mine ready to go. I reckon it's worth at LEAST $1.25 per share ($118m market cap - mid-range). A large trade buyer (Chinese, Indian, multinational) would pay this in a heartbeat to get the asset if the large shareholders would let it go. They wouldn't!. I actually think it's worth more, but $1.25 perfectly reasonable in a short time horizon. Yes, the capex is large, but the annual cashflows for decades are forecast US$300m plus, and seem reasonable given low cost ops