Ann: PFS Highlights Robust, Short Lead Time Start-up Opportunity, page-136

Yes daz400, US$

For a Dry Metric Tonne Unit (dmtu)

'Dry' meaning any moisture has been taken out.

Sales prices depends on the ore quality.

So... I think I'm right here but anyone who knows better... please point out if I'm wrong.

E25 reckons they can get to 33% grade Mn.

So have used $4.80/dmtu in their PFS.

I think you go...US$4.80 x 33 to get US$158.4 which is $245 Aussie.

(Higher grade ore gets US$4.80 X 37 for example)

And E25 initially plans for 350,000 tpa.
At estimated costs of aud$150/tonne.
So a profit per tonne of $95......?

$95 X 350,000 tonne. Bang. $33M profit each year?

I think thats kind of how it's done.

Note:

1. AUD/USD also critical to us as much as the Mn price.

2. Imagine what numbers this will spit out when the increase tonnage per annum from 350,000 to 500,000 and beyond?
It is indeed a money making machine.