We will be shipping 50-60% Con I assume and it would have a payability penalty. Probably getting like 60% payability.
So it's more like 4,500 * $2,500 * 50% * 60% = US$3.375m per month or A$4.6m. Then you have to adjust for ownership and costs. Net to SL1 we are expecting about A$1m a month. Don't get too excited guys.
But $1m/mth is a decent amount of drilling that can be done. Let's say that pays for 3,000-5,000m and we are punching holes on average 100-150m deep. Thats somewhere between 20-50 holes a month. The more we increase LOM and prove this is longer than a 1 year operation the more serious the market takes us.
SL1 Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held