Ann: Toliara PFS confirms a world-class mineral sands development, page-16

I seem to be the only one that is a bit disappointed in the numbers.

The project only has a 22% internal rate of return and 4 year payback...and that excludes the $100m they paid for the project...which would make those numbers worse (high teens rate of return and 4.5'ish year payback).

On the positive side, the project will spit out a good level of cash at high margin for many years, so those with a long term view should do well.

I was going to load up but the project doesn't look as attractive as I hoped it might be.

Rosco