...anyone else had a good read through the prospectus yet?
Capex costs of 200 million (roughly), plus another 100 million for a slurry pipeline (I think MGX would say double that price based on the magnetite project they costed and then sold to the Chinese), and what about capex for the desalination plant that seems to have escaped costing for inclusion in the above capex....
...and all of that for 2 million tonnes per annum? Ouch. So.... they end up trucking or railing. Even then, what is the payback period - 3 or 4 years?
My mule (refer BSG) wouldn't even get out of bed to smell the share certificates for that lengthy pay back.
Surely I'm missing something obvious here.... thoughts of others please.
Rosco
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