RE: GREAT Anybody that labels this PEA as great, good, solid, healthy or positive is one incredibly stupid individual and needs their head examined.
Based on the figures released and as the market has all along correctly predicted no mine will ever be built.
Facts are
| Financial Return | |
| Payback from start of production (years) | 6.80 |
| Internal Rate of Return (before tax) | 10.4% |
| Costs | |
| Pre-production capital ($) | 259,000,000 |
| Average Underground cash cost per ounce (US$/oz) | 1,205 |
| Average Open-pit cash cost per ounce (US$/oz) | 985 |
Show these numbers to any finance individual and they would laugh themselves silly. A payback period of almost 7 years is ludicrous. A healthy payback period would be 1.5 to 2 years. IRR of only 10% and that is pre tax. Imagine return post tax (under 10%). Cash costs of $1000 to $1200.
You people waited all year for this. What a joke!!!!!!