What's the future look like for Heron post-raising, page-26

Zinc is currently trading higher than the DFS assumption, however the currency, copper price and now the silver revenue are all in the opposite direction. Also, the capital cost, underground restart and underground feed to tailings feed transitions in the plant are all risks for me. HRR remains leveraged to higher zinc prices however the peers of HRR are a much better bet, more leverage from a lower market cap basis on a like for like basis. Exploration would need to show serious legs, providing a potential multiple of production tonnes compared to the DFS to change my mind.