..........and I meant to add that with MB now promoting the idea that this is a feasible 20mtpa mining operation, at some stage you probably replace IGV with a DCF valuation approach.
So, what would our profit before tax be? $10/tonne or $20/t or more?
For a company with an endless (ie 50+yrs) mining operation, perhaps a 10x EBIT valuation?
DYO maths - its embarassing.
update: igv $150b vs mc $63m, page-45
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