Ann: Full Year Statutory Accounts, page-2

Interesting report, and one sentence took my eye. It's on page 14 where it states: "The Study estimates a capital cost of $668 million with a 3-year payback." I checked backwards and found an earlier reference to "The Study" on page 13:

"The Company is also progressing a Feasibility Study for the mining and processing of both the Copper Lode and Cobalt Peripheral Resources. The Study is refining metallurgical process parameters set out in the 18 April 2017 Cobalt Roasting Scoping Study, which includes a concentrator to produce separate copper, lead and zinc concentrates, and a roaster to produce a cobalt rich calcine, sulphuric acid, and silver."

I may have misunderstood, so read it for yourself, but could it be that AML is giving us some details of  progress with the feasibility study for the mining/processing of the Resource (at Marley and Vardy). in other words, are they saying that the capital cost of the mining and processing is $668 million with a payback of 3 years? So once the infill drilling of the Resource, the flotation testwork and the environmental studies have been completed (all are well underway), we may have a revised resource estimate and a schedule for financing and construction. What do you think amigos?