RE: Fully funded18 Sep 2025 13:00
'The above model produces a NPV10% of US$283m with a payback period of 2.2 years. Awarding a 75% chance-ofsuccess to this opportunity produces a conceptual NAV for Pepas of US$212.3m (or £154.9m).'
Not bad for one small area, with less than a years drilling.
Get ready once Pepas North comes into play.
'2. Understand the wider Pepas epithermal system, and in particular, define the litho-structural controls
upon the exceptionally high-grade mineralised zone at the Prospect and plan a targeting methodology to
guide exploration toward finding repetitions and source feeder zones.'