Yes, it does, thanks.
I might nitpick at some of his numbers, but the one that looks way off is the capex. I can't see capex for a project like this being much under $300M, versus his $100M. That's just looking at what other sulfide operations seem to cost. The one analyst I referenced earlier guessed at a cost of $450M. Maybe someone can come up with other examples of a sulfide mining operation that produces this volume of material for lower capex?
Help With Valuation Exercise on COB, page-40
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