Pilbara Playbook, page-4

@paulgf
Great questions.
I can not confirm as yet but if I have some time over the next few days I will go over those points in the scoping study. Meantime, let's assume that Novo have done their numbers by assumptions of processing the conglomerate that they are familiar with and the head grade they are assuming also.
If they have calculated the aisc on a strip ratio that is indicated by the way the nuggets have been recovered up to date ( by removing a layer at a time ), then apply a head grade that they think which could only be determined from the very limited exploration they are doing? 17g/t is what is indicated as an average but it is far to early to give that as any sort of indication, then their numbers may look fantastic. It also means that they will let the market down if those numbers are not translated into any bfs.
In other words they look like they are over promising.

Deg on the other hand are conservative, they may have lower grade than some others but the strip ratio is more than likely lower and they have all the material on the ROM pad already.
I also think the grade will increase when they update the resource very soon, maybe mid year.
I am certain that they have not included any conglomerate expectations in the scoping at all as it was done pre conglomerate acquisition.
My expectations are that deg are more likely to over deliver and would like to confirm these numbers over the next few days. As shamer said , it is either a mis print or those numbers do not compute with the info at hand.
For anyone else, just get the numbers from the scoping study and compare.
Please dyor as I am deg biased toward deg.
Wack.