CFR costs are probably $60-70 to produce at a guess given small operation and we won't have the same abilities as IO producers which are doing a bit lower. Even if you count it as say USD$40/tonne margins that works out to c. A$37m profit for a 1 year program. That basically covers increased capital costs.
Moves already being made to set us up for stage 2. Some of the plant mods are interesting. By all accounts over the last 12 months Ken has been a bit ho-hum about whether we would ever sign a tech grade offtake or not. The specific comments about iron removal hints (at least to me) that something might be in the works on that front.
PLS Price at posting:
94.0¢ Sentiment: Hold Disclosure: Held
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