Investment case for CST, page-4

of course there are many variables at play and some risks. the PFS due after they do some more drilling will give us the AISC, but Metals X did some studies in 2014 and they came up with Cash costs of $580oz after copper credits. so I'd expect AISC to be say $1500oz. that still leaves a margin of $1100 per oz. they had mentioned 60000oz pa initially so that's $66m pa free cashflow. not to mention that they'll be following up drill targets that have had past success and add to this resource, so I expect that this figure will increase pretty quickly.

point 2 page 9 touches on the Capex part, but if you watch peter cooks past interviews, he's very good at starting mines with very low capex.

comparing to other goldies and not allowing for other posssible finds within their extended tenamants, I think a$360m mc is modest.

time will tell, meanwhile DYOR