It’s probably worth highlighting the impact of Renison entering...

It’s probably worth highlighting the impact of Renison entering Area5 zone more or less as we speak and what the uplift in grade could have on its cash generating ability and valuation. Below are my estimates, I think it could double the Renison cash flows. It’s also worth noting that the Bell50 area below Area5 is looking like even higher grade with intercepts like 30m @ 4.5% Sn.. so this asset looks tier 1 compared to the vast majority of tin mines. I just hope they come to their sense with Nifty and stop the bleed.