Ann: Mt Thirsty Cobalt Project Scoping Study, page-2

Just went through the numbers and worked out on today’s price of cobalt alone project is viable
1280 tons of cobalt per year is $75mil @ $59000 /ton x 21 = $1.5 bln

$43 pt x 1.5mtpa = $64 mil of cost per year = $1.3 bln

Add nickel today’s price $10500pt x 1600 ton per year is $27 mil
$27 mil per year x 21 is $565 mil
So
$103 mil per year x21 = $2.16 bln
-minus
$64 mil per year in production cost =$ 1.3 bln
= $860 mil ( minus $212 mil capex=$648 mil)profit over life of mine at today’s prices which works out to be
$31 mil per year profit

Forgive me if I’m wrong I ant no accountant