Not sure what you're trying to calculate...
Base case of only 85Mt (not the entire 315Mt or more) at higher prices is USD$785m over 10 years. Combined with 60% ownership and assuming the mine scales linearly, its around 1.7B USD over (27 years?). That's almost 10x the current Mcap.
This doesn't even take into account any processing plants / vertical integration (which if would they shouldn't have any issues funding). Which is clearly the play given the recent purchase.
No EBITDA Multiple factored either.
Ann: Proposed issue of securities - IXR, page-17
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