RE:RE:Dundee Capital Markets comments on Largo Resources LimitedLongon,
you need to add the already spent capex to NPV. This makes their calcualtion even more ridiculous.
Plus what is not really taken into account anywhere, Maracas can continue as an underground mine after open pit resources are depleted. That is, if there's any continuity in ore, to me this is evident looking at drill results. It should be possible to use bulk UG methods to mine it, and since mining costs are not very big portion of overall costs anyways, I have no doubt this would be feasible.