look at moy, look at moy............, page-7

From prev BFS Fastoh (she's worth a lot):

The Nullagine Gold Project is expected to deliver a net operating cash flow of between $81m and $105m depending on the hedged gold price. It was assumed at $880 last time.

Tonnes Mined 4.5 Mt
Grade Mined 2.38g/t. Au
Ounces Produced 304,000oz
Production Rate 70koz Au/pa
Cash Cost A$513/oz
Start up Capital Cost A$43 million
Cash operating margin A$287/oz
Cash operating margin (hedged) A$367/oz
Net cash flow A$81M
Net cash flow (hedged) A$105M
IRR 27%
IRR (hedged)42%

Water exploration drilling during the last two months indicates that process water will be available from sources located near the processing plant. The completion of the final pump testing program has been delayed by the inclement weather and is due to start in two weeks.

• Low waste to ore stripping ratio of 4.3:1. Ore is available at surface on all deposits.

• 85% of reserves are in the proven category

• Simple ore treatment plant flowsheet

• Native Title mining agreements already in place

* Current resources stand at 860,000oz (590,000 oz are measured and indicated) at a 1.0g/t. Au cut off grade.

It's ridiculous. Ears pulled back.