Mines are typically financed for construction at 30-50% of...

Mines are typically financed for construction at 30-50% of NPV.

The problem is, we don’t have an NPV at this V price because the mine doesn’t get built at $7.40/lb

But with no better option, if we take an NPV of $400m from Troydt yesterday.

I’m then going to take 50% because I have been conservative elsewhere and we are in the best jurisdiction and drilled the crap out of it.

0.5 x $400m = $200m = about 80c.

As always, correct me where I’m wrong and call
me an idiot if necessary.