RE: mafl interview17 May 2022 18:29
Worth a listen to; JV unpicks the RNS for a non-geologist. Towards the end of the interview he notes:
"We just need to remind people, the original PEA that was put out by Ascendant last year, is based on what now feels pretty out of date information, because while you were in South Africa Katy, we came out with some results that were extraordinary. We came out with the MET-MS1 hole that was 109 metres that was 20.9% of Zinc equivalent from 167 meters of depth which is relatively shallow and that is probably the best hole that has been drilled in Portugal in the last 25 years so it is a really outstanding hole that in and of itself will change the economics but having a better understanding of the deposits metallurgical features and now that we are sensing, we are getting this thing bigger at the edges. The original PEA suggested a NPV of $341m with an IRR of 68.2 (these are all pre-tax numbers), after tax $246m with a 55% post tax IRR and these are all based on a smaller deposit and lower metal prices, so the economics are going to get better when we finally get out mits on the feasibility study later this year so it is outstanding news but it needed the decodering."
The Defined Feasibility Study will provide a better understanding of the size and richness of the deposit but even then they will still be drilling once production has begun. Less than 8 months which is not a long wait in mining time even though that is years for the average AIM gambler.