GREY:ADEXF - Post by User
Comment by
rpdelucaon Aug 10, 2012 1:27pm
323 Views
Post# 20204593
RE: RE: RE: officially out
RE: RE: RE: officially out I think it is safe to say that we are all disapppointed in the numbers...but rememeber this is a true final FS and the project as defined in the FS is not optimized. What do I mean by optimized. Remember the goal is to get to 8-10 million tonnes, the concentrate is 69% (as press released but could not be used in the FS) and not 66% and the FS assumes arctic diesel (ultimate goal is to use LNG).
IF you look at it, OPEX and CAPEX came in pretty good. The OPEX at $49 is actually lower than what you are seeing in places like Bloom Lake and with LIM (DSO currently close to $60). What truly hurt this is the 15 year mine life...if you use 20yrs, you get much closer to an NPV of $1 billion...
All in all, I'm disappointed and was expecting more. Now we need to wait and see if the Chinese move forward wtih this...