Yes an important point snakepitt. The other detail that was mentioned in some comments by the chairman the other day was that the projected upfront capital cost to develop Tarcoola is now likely to be in the order of $5M. Before they had bought Challenger they had only done a feasibility study based on heap leaching and capital costs were $16.7M.
NPV of Tarcoola is ~$25M based on 3 year mine life. Not bad for something requiring only $5M of upfront capital.
WPG Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held
