Mining scout tour of NB, page-3

Looking just great densamer!

By the looks of their booths and the demeanor of the team it does look like they want to go mining. I think from memory that was some $60-70m profit per year for Cassini’s 30% share based on past figures alone @ 10Mtpa and the then current spot prices, but have to re-calc that again to be honest. Using these though just for fun, PE of 10 would give $600m MC at $60m p/y (mine financing dependent obviously) and from experience the company achieves at least half that MC after FID is made..but crazy to think we may be looking closer to that final figure in 2-3 years without any other exploration success during that time given we are still only circa $20m.