Based on the updated feasibility study issued 2016 the Capex was $832 million and IRR 43.4%. The refinery was $371 million of that total capex based on the original feasibility study.
If we then assume we no longer need the refinery (and export concerntrate for separation offshore) we can then subtract that $371 million. That brings the capex down to $461 million.
Now that doesnt even touch on the increases in flotation and benefication we have made which will lead to a decrease in plant sizes (and hence capex) as well as less reagents (reduced opex).
Personally I would expect the IRR to be more than 80% possibly higher. I look forward to reading the DFS update later this year!
GGG Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
