LOL, productivity wise as of today. Throughput etc as per previous owner. METS can only make an assessment on the plant in front of them and the cashflow model applied accordingly. Similarly the company’s cash model can’t be applied on an upgraded plant that isn’t there for plant evaluation purposes.
You’re getting confused and misinterpreting the intent of the report. It’s fundamentally a condition report of the plant to include in the prospectus with a forward looking opinion, hence recommendations for automation, certain milling equipment types, degree of spares on hand, etc etc.
Where does it assess 250,000tpa throughput processing 1-3%Co ore at $xx and sales of 30-40% cobalt hydroxide at $xx or current spot price?
Silly to assess WFE potential NPV based the last owners operating conditions, they operated as a copper producer lol.
independent valuation of luapula plant, page-68
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