Tough Capex was reduced to US$163m, great presentation, no fancy stuff, just the real Arcadia world
• The use of a HPGR is expected to deliver:
o Reduction in Capital Expenditure by US$2.3m (1.4%), to US$163m.
o Reduction of Operating Expenditure by US$7/t or 2.46% (approx. US$3.2m p.a.), to US$278/t.
o Increased project NPV101 by US$22m to US$533m, increased average annual EBITDA by US$3m to US$109m.
Ann: Investor Presentation March 2019, page-3
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