I think people understandably underestimate Morila. With the attention fixed squarely on lithium / LLL / Hype, Morila seems to have been pushed to the background, but the numbers are good… really good.
sorry in advance for these rough, poorly laid out numbers, but you get the idea.
Morila 2022
low end: 100k oz @ $1400USD ASIC @ $1750per oz = $35m usd - 20% gov = $28m usd = A$39 even a slight adjustment changes the results significantly: 110k oz @ $1400usd asic @ $1850oz = $49.5m - 20% gov = $39.6m usd = $55 m aud
morila 2023: low end 160k @$1124USD ASIC @ $1750 per oz = $100m usd - 20% gov = $80m usd = $111m aud
morila 2024: low end 200k @ $1000usd asic @1750per oz = $150m -20% gov = $120 usd = $167m
that’s before we add resource and grade upgrades / LOM v2 / plant upgrades / sag / underground etc these additions i believe will happen side by side to the current plan
a very possible scenario for Morila 2024 could easily look like:
250k @ $950 asic @ 2k usd per oz $262m usd -20% gov = $210m usd = $292 aud
there’s a very valid case for even better case than listed above
then add on FFX will continue to hold 20% of LLL, it’s a very bright future either way we look.
