correct, but we also don't pay for the whole project.
Ball park:
- Iron Bridge JV project costs ~$3.7 B
- Iron Bridge JV annual revenue ~$3.7 B (~$185 67% concentrate dmt *20)
- Iron Bridge JV annual costs ~$1.7 B ($41.5 C1, $12 Shipping, $6 Sustaining capex, $13 royalty, $4 admin/finance etc per wmt )
- Iron Bridge JV EBITDA $2 Billion
FMG 69% of everything above. Roughly 25c dividend /share, nothing amazing, but still a great ROIif it goes to plan.
Ann: March Quarterly Production Report, page-50
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