Ann: Intermin Signs Exclusivity Deed for potential acquisition, page-18

Ok looks like I am wrong if IRR is 28% - it is telling me you can go to a discount rate of 28% when NPV = 0. In my opinion IRR of 28% is pretty decent for a gold project, there must be other reasons why they have not sanctioned the Coolgardie gold project. 

The other interesting point is maximum cash draw in the first year is $35M first year.  An earlier post indicated that Lakewood PFS capex was $60-70m.  If this deal goes through... it all points to me that it improve PFS economics for Horizon Mining scheduled to completed by the end of the year.