Once feasibility comes in, I drop IGV as it's a fairly loose metric (IGV 5% is a good guide if you have confidence that a resource will be mined). Valuation is tricky because we don't have a study on Macy yet, no cost analysis possible. When we get the numbers I'll create a target and then use that for an expanded case including Aisha and then down grade the number for project risk. Once Macy is producing and cash is coming in then the risk number can be dropped for both projects.
Sorry, doesn't really answer your question. Although, I can see 10-15c on a risk basis pre mining for both projects and that's from targeted production of 10ktpa.
SL1 Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
