Evaluating a fair value is very difficult due to the nature of the deposit. On the MC / NPV10 stage1 basis with 0.30-0.35, CGK is currently rated 'fair' for me. Parameters POG 1700 and r = 10% are OK. This only includes the starter pit (20% of the resources) and no upside (higher grade etc). In contrast, of course, is the far higher risk with regard to the large-scale implementation of the
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