I looked over those numbers last night and recalculated based of LOM 2 years and 1.6Mt to be conservative and the numbers still don't add up. Here's what I'm seeing. AUD$85 P/t (US$65) production costs including shipping and other costs listed below.
Market Cap AU$75m (US$57M)
VMS Sale price vs profit estimates.
@US$90p/t US$44M
@US$120p/t US$88M
@$150p/t US$136M
@$160p/t US$152
To flow on over next 2 years (Life of mine)
which ever way it is the numbers don't add up to me, we should be making more then expected over the next 2 years and from what I can see with my estimates we'll be bringing in amounts of cash equivalent or higher then our current market cap. Another thing to consider as mentioned above cost of production should come down from areas like road haulage, administration and mining estimates as they improve efficiency.
NOT ADVICE DYOR
Riley, page-84
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