Ann: Gabanintha Presents Robust Base Case for PFS, page-46

Good first try at a PFS..but better described as a SS...too much cautionary comment
and this on P32
"Capital Costs are based on process design criteria, material balances and a sized equipment list. The main equipment pricing is sourced from vendor quotes or Wood Group’s database from similar projects. Allowances were made for infrastructure and mine support facillities. All costs are estimated in Australian dollars as at Q2 2018, are judged to have an accuracy of -15% +35% and are considered to be at scoping study level in accordance with Wood Group’s estimating procedures and Class 4 as defined in the AACE document 18R-97"
There is a long way to go to beat TMT into production
In AVL doc production starts 2022 TMT 2021.
Despite the range of NPV --take you choice.. Its early days