notes from presentation, page-6

Many thanks, Cdchi1 and ASXIOU, for your excellent and informative posts.

The underlying point that keeps coming through is that the development is being consciously viewed as a business enterprise, with all the steps needed being taken. Seeing a professional approach, like this, an investor will justifiably get more comfortable with, and confident in, the company.

Especially good to see a marketing manager appointed at this stage, and to learn that he is being exposed to all the right people at the London conference.

The order-of-magnitude cost figures quoted by Tom Eadie are very interesting, as they allow us to derive a better picture of where SYR is going, and how much money they could make in the next few years.

Let's take the figures from Tom Eadie, as mentioned by ASXIOU, and see where they lead.

Assume:

-Average graphite price $1500 per tonne
-Average vanadium (V2O5) price $10000 per tonne
-Capex $100m
-Ore runs 15% TGC and 0.3% V2O5 (ie, rich ore early)
-Production of 100K tonnes graphite per year, and 2K tonnes V2O5
-Cash cost total (inc transport and vanadium processing) $250 per tonne graphite
-Loan repayment period (loan from bank) three years
-Mozambique tax 30%

NAT then comes out at $70m per year, or about $0.50 per share (diluted), for the first three years, and roughly $0.70 per share thereafter (ie, after loans repaid)

I have deliberately kept the assumptions on the conservative side, so please make adjustments as you see fit, for greater market share, better prices, and so on. What is then a reasonable PE? 10? 15? 20?

As ASXIOU quoted Tom Eadie as saying, ""As far as the SP goes, you ain't seen nothing yet".

And then there's the mineral sands, which only seem to become more prospective with each announcement that comes out ...

Cheers, Prime