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.
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