Have a look at the following, unless I miss understand what...

Have a look at the following, unless I miss understand what you're asking, I think Hematite is already included in the figures you've listed.



Let me know if I missed something here.

On another different point for this thread. If we have a look at T.E.P.'s post, the first of this thread (good stuff btw) I'd like to raise a thought on his following comment, I quote:

"Lastly, once this project has secured CAPEX project financing and reaches a FID to proceed with construction (performance incentive 7), the share price should find equilibrium with the NPV of the project which should fall somewhere between $250M and $750M, as per the DFS. That corresponds to a share price between 25 cents and 75 cents at the point of first production."

My thought is this, based on these figures as reported in the last updated PFS which includes the 4A HPA, shouldn't the NPV read between $1.47billion (Base) or $1.08billion (Spot - see following?



OR lets say $750m to $1.250billion, to be conservative. (As opposed to $1.08billion to $1.47billion)

Placing the share price between $0.75 to $1.25 at the time of F.I.D.. Assuming of course the share price finds equilibrium with the stated NPV.
(This assumes a maximum issue of shares to be around 916million, which includes current Director and CEO bonus/milestone issues. BUT does not include any issue for financing, as this is currently unknown.)

Perhaps T.E.P. could you comment? Plus anyone else of course.

All IMO, please DYOR - Good luck.