Hi jhaas,
The NPV of the PFS was extremely conservative on several bases:
- 2Mtpa operation
- Did not include what will be an updated ore reserve
- Input prices conservative to present contract rates
The project is now considerably derisked and will allow for a larger throughput plant and a larger ore reserve. The DFS should also have more specific detail on things such as technical vs chemical grade production which will give greater clarity on prices and revenue streams (as well as strip ratios etc). IMO it's a good thing to use conservative prices so provide a base with upside rather than downside potential.
These are just off the top of my head, I'm sure there will be others who can fill in any gaps here as well.
Basically you can think of the PFS as a very conservative baseline for the project which proves it's potential with much upside to come.
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