though I should have had a look on the website - the older reports had what I was chasing.... which was 70% or so of the target val is made up of the international product production
some big phase 1&2 production forecast differences between Veritas and Patto though
I don't know why patto's is forecasting 300-400ktpa production for 2012 and 2013 when >50% less than current production and Veritas numbers
but even without the intl sales, just putting the domestic numbers together
1.5mpta ROM, production at 120kt per qtr 60% lump and sinter = 500ktpa with 42% recoveries = 600k-650ktpa plus the fines product concentrator +200ktpa equals pa production of 800k-900ktpa (900ktpa Veritas forecast)
Veritas forecast total cost $7.19 rom/t in 2012 and $8.60 rom/t in 2013
not sure on patto's opex ($20 product/t but production forecast is 300ktpa and 400ktpa) but this can't be based on 1.5mtpa rom so, can't work out $/t rom cost
using $10 rom/t equals $18 per product tonne (after the concentrator)
$45/t sales revenue is a very healthy margin
on 20yrs gets you to $220m pre tax pv and 55c share price
what am I missing????
------------ pattos
veritas
sfz
SFZ Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
