Thanks for the link, Chasc. Interesting to read the "Valuation"...

Thanks for the link, Chasc. Interesting to read the "Valuation" section of that Edison report (p.36):


Valuation: Upside on release of opex/capex costs?

Pending release of detailed opex and capex figures for Stage 1, we reiterate our A$0.32 per share dividend discount valuation (at 10% discount to reflect general equity risk and a flat US$1,350 long-term Au price). Once its detailed opex/capex costs and mine schedules for Stage 1 become available we will look to revisit our valuation and also apply our revised gold prices (ie US$1,600/oz [2013) and US$1,350/oz long-term). Further, pre-production capex for Stage 1 has reduced by US$12m to US$10m; this alone should present clear upside to our valuation.