Ann: Iron Ore Scoping Study Update, page-12

NPV is already discounted.

Net present value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows over a period of time. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount rate. NPV accounts for the time value of money. (Source: Investopedia/ Wikipedia)

The nominal value of the future cashflows (i.e. not discounted) is double-digit multiples of the NPV. This would be the cash 'profit' you refer to.

The estimated NPVs on this thread were for 10 Mtpa, as quoted by HAV on pg 2 of this release.

On Slide 23 of the ASX:CAP 20 March 2019 Investor Presentation it states "Rail to Port Pirie or Whyalla on existing rail (12 Mtpa spare capacity)". The NPV would be higher assuming 12 Mtpa, due to the time value of money.

@Clark888 posted that "in theory, if there were enough strategic passing loops you could get to 20 Mtpa" (Post #: 38011816). NPV estimates would be ~ double assuming 20 Mtpa (See Post #: 38036358)

Interestingly, assuming 10 Mtpa, ~ half the estimated GIB Exploration Target and Grants JORC resource (excluding Maldorky) is extracted for the mine life assumed in my calculation.

Note that my calculations are estimates applying Opex and Capex data provided by CAP and FMG (see Comparison Table at Post #: 38007166). HAV's unique Opex and Capex data would be used in determining its NPV.

HAV's Fe assets have the potential to be transformational to HAV provided that its leadership negotiates a Fair Value deal for HAV Shareholders, supported by an Independent Expert's Report.

DYOR