I know John likes to compare us with Rosebery because he's familiar with that deposit.
But let's not forget the takeover earlier this year of AZ mining. I actually think that's a good comparison to where we're at with MYL given they are in a similar stage of development (AZ mining a bit more advanced).
The table below shows that comparison. Please check my assumptions and make your own conclusions.
Notes:
- MYL SS only covers 23% of total indicated resource
- MYL's NPV and IRR are the mid range
- MYL's NPV and capex have been adjusted for ownership
- MYL's study doesn't include Ni and Co, to be included in PFS
- AZ's MC is taken to be S32's takeover bid
Ann: New Drilling Results Show High Grade Mineralisation, page-17
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