Evidence based speculation, page-14

Don't go to too much effort. As I keep saying, the grade smashes any capital and productions costs.

If setting up a plant costs $10M and running costs are $10K/pd that's $13.65M costs in the first year. I'm exaggerating those costs just to prove a point. No doubt they'll come in much lower than that. I'm using AUD but these are just ballpark numbers - everything is much cheaper in Brazil.

If they commence production at 25Ktpa and the dirt is going (a conservative) 3oz AuEq (2 oz Au and 1 oz Ag) that's $127.5M in the first year and the capital is paid off in the first month which is a good measure of how profitable the operation will be.

Annual production costs of $13.65M divided by the metal produced at 25Ktpa (AUD $1.275M):

$13.65M / $1.275M = $49/oz production costs

This might help explain why this operation is going to be a money printing machine. What happens when they crank it up to 100Ktpa? ....then 1Mtpa with the full mining permit?