scoping study. a world class deposit confirmed, page-9

The announcement appears to indicate two things:

1) Plans have been drawn up to get this thing to a mine, hence the projected costs. GOOD.

2) NET profits will be circa $280m AUD p/a for 10 years with a 2 year time to production. AWESOME.

3) We may not see massive improvements in price for another 2 years and heavy fluctuations continue as a cap raising is sure to occur, or massive debt funding (unlikely, given their reliance to date on capital raising and success with this thus far). NOT GOOD.

4) There are still more targets to explore and deposits to identify and quantify. GOOD. Could compensate for fluctuations noted in (3).

I don't think the chart predictions for a drop to $2.40 will be proven correct. I think it will be on a rise from here in.