PFS calculations, page-6

This is by no means any formal method of calculating revenue and profit. but might as well put it up

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
0	TPA	240000
1	Cost	600	* slightly higher than our peer
2	Royalty	3.0%	*can come down to 1.5%
3	Tax Rate	30.0%	* MNS fixed TR
4
5
6	CanAccord
7	Flake	Super Jumbo	Jumbo	Large	Medium	Fine	Amorphous
8	Price	2000	2000	1500	1000	750	550
9	Distribution	0.1	0.3	0.25	0.15	0.1	0.1	100%
10	Basket Price	200	600	375	150	75	55	$    1,455
11	TPA	24,000	72,000	60,000	36,000	24,000	24,000	240,000
12	Revenue	48,000,000	144,000,000	90,000,000	36,000,000	18,000,000	13,200,000	$  349,200,000.0
13	Costs	14,400,000	43,200,000	36,000,000	21,600,000	14,400,000	14,400,000	$  144,000,000.0
14	Other Expenses
15	Tax	14,400,000.0	43,200,000.0	27,000,000.0	10,800,000.0	5,400,000.0	3,960,000.0	$  104,760,000.0
16	Royalty	1,440,000.0	4,320,000.0	2,700,000.0	1,080,000.0	540,000.0	396,000.0	$ 10,476,000.0
17	Profit	17,760,000	53,280,000	24,300,000	2,520,000	-    2,340,000	- 5,556,000	$ 89,964,000.0
18
19
20	MNS BFS Basket prices
21	Flake	Super Jumbo	Jumbo	Large	Medium	Fine	Amorphous
22	Price	4000	2500	2125	1000	750	300
23	Distribution	0.09	0.32	0.32	0.09	0.09	0.09	100%
24	Basket Price	360	800	680	90	67.5	27	$    2,025
25	TPA	21,600	76,800	76,800	21,600	21,600	21,600	240000
26	Revenue	86,400,000	192,000,000	163,200,000	21,600,000	16,200,000	6,480,000	$  485,880,000.0
27	Costs	12,960,000	46,080,000	46,080,000	12,960,000	12,960,000	12,960,000	$  144,000,000.0
28	Other Expenses
29	Tax	25,920,000.0	57,600,000.0	48,960,000.0	6,480,000.0	4,860,000.0	1,944,000.0	$  145,764,000.0
30	Royalty	2,592,000.0	5,760,000.0	4,896,000.0	648,000.0	486,000.0	194,400.0	$ 14,576,400.0
31	Profit	44,928,000	82,560,000	63,264,000	1,512,000	-    2,106,000	- 8,618,400	$  181,539,600.0
32
33	MNS PFS Basket prices
34	Flake	Super Jumbo	Jumbo	Large	Medium	Fine	Amorphous
35	Price	6000	3000	1400	900	500	300
36	Distribution	0.09	0.32	0.32	0.09	0.09	0.09	100%
37	Basket Price	540	960	448	81	45	27	$    2,101
38	TPA	21,600	76,800	76,800	21,600	21,600	21,600	240000
39	Revenue	129,600,000	230,400,000	107,520,000	19,440,000	10,800,000	6,480,000	$  504,240,000.0
40	Costs	12,960,000	46,080,000	46,080,000	12,960,000	12,960,000	12,960,000	$  144,000,000.0
41	Other Expenses
42	Tax	38,880,000.0	69,120,000.0	32,256,000.0	5,832,000.0	3,240,000.0	1,944,000.0	$  151,272,000.0
43	Royalty	3,888,000.0	6,912,000.0	3,225,600.0	583,200.0	324,000.0	194,400.0	$ 15,127,200.0
44	Profit	73,872,000	108,288,000	25,958,400	64,800	-    5,724,000	- 8,618,400	$  193,840,800.0
45
46	VRC PFS
47	Flake	Super Jumbo	Jumbo	Large	Medium	Fine	Amorphous
48	Price	2750	2100	1700	1200	750	300
49	Distribution	0.2	0.3	0.26	0.12	0.05	0.07	100%
50	Basket Price	550	630	442	144	37.5	21	$    1,825
51	TPA	48,000	72,000	62,400	28,800	12,000	16,800	240000
52	Revenue	132,000,000	151,200,000	106,080,000	34,560,000	9,000,000	5,040,000	$  437,880,000.0
53	Costs	28,800,000	43,200,000	37,440,000	17,280,000	7,200,000	10,080,000	$  144,000,000.0
54	Other Expenses
55	Tax	39,600,000.0	45,360,000.0	31,824,000.0	10,368,000.0	2,700,000.0	1,512,000.0	$  131,364,000.0
56	Royalty	3,960,000.0	4,536,000.0	3,182,400.0	1,036,800.0	270,000.0	151,200.0	$ 13,136,400.0
57	Profit	59,640,000	58,104,000	33,633,600	5,875,200	-    1,170,000	- 6,703,200	$  149,379,600.0