stage i assessment supports fast track develop, page-8

We are all picking up some fantastic sound bytes here from the announcement.

I particularly like the EBITA (i.e. cash earnings) of $55m per annum esp given our market cap is $80m, or 1.5x cash earnings!

Cash costs are first quartile.

Off-take with Brazilian and international companies.

Capex of $50m, with pre production capex of $14m.

Trail mining licence should aid rapid construction.

Payback 9mths, NPV $224m ...

7-yr open pittable, total mine life of 9 yrs. Open at depth.

Two words come to mind - no brainer.