boliden play, page-9

At the current rate of expenditure, the NPV of Kylylahti ( using direct costs and allocation of HO overheads) is probably close to zero.

This may be true in a net sense but in gross terms Kyl made $18M profit last year, so when normalised to 4 quarters of full production (instead of 3), gradual refinements in efficiency, and lower capital expenditure, it should be capable of generating at least $25M a year.

The problems are that AOH has frittered away that $18M in Australia in admin and Roseby costs (plus $5M writedowns on Kuhmo).

Kyl itself would I think be quite a valuable asset to Boliden. But they would have to move soon because currently AOH are mining it away for effectively zero net profit. Every year AOH remain in charge of it they are destroying the NPV for someone like Boliden.