I have gone through various announcements over the past 3-4 years and I recall seeing a forecast for lethbridge south revenue for $15-20 million. We would assume MZI were making a profit on this revenue otherwise there wouldnt be any point in doing it.
This revenue has now jumped to $40 million with the surge in mineral sand prices. There must now be a very good margin in this imo and recent announcements seem to confirm this.
The company is paying off $4.5 million loan from this revenue to Doral so that cash would be part of the profit. This $40 million is to turn this into a several hundred million dollar company with Keysbrook and Kilminaraka to come online in the next year or so.
This is just the beginning guys.
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