what the ?, page-13

Snitch, you are correct in that the latest presentation estimates costs to be $44.58/lb. I remembered $36(and 60 cents) from the FS study released on the 3rd of May 2012. Obviously HQ have simplified the opex for the presentation rather than following what I assume are industry guidelines for FS reporting.

Nonetheless, we sell majority (from memory like 70%) on Long Term contracts and the LT price is currently $61.50.


But, we can all agree that when the Spot Price begins to move north we will be laughing.