For the BFS, it sounds like AJ is making 1.25 Mtpa throughput the base case. This will bring the IRR in excess of 60% and $400M+ NPV. It will be interesting to see how they juggle the initial project capex with the open pit design. If it all comes together, then minimum SP should be 50c at least. You have point, added certainty on finance + hopefully stronger copper price should see us 60-70c.
VXR Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held