Day to day discussions on S/P, page-11775

Pilbara have replied to my email regarding floor price.We do have a floor price relating to stage one, no floor price for stage 2 offtakes, but have chosen not to disclose due to being commercially sensative.
But they confirmed that the intent of the floor price was it was designed to be at a level that assisted the funding of the project through their Nordic Bonds, it therefore covers the cost of production plus a nominal margin plus interest costs and the amortization of the bond itself over the term. They said they did not expect the realised price to reach the floor price.
So i suppose someone out there may be able to estimate what the floor price is approximately. I was thinking $300 t production costs plus lets say $50 a tonne nominal margin just to be not to greedy, so the interest on the funding would be $100m US x 12% pa = 12m interest annually over 330000t of spodumene equates to interest per tonne of $36 per tonne approx and amortirization cost i am guessing would be worked out over the 5 years ( 20m per year) even though only amortization in years 4 and 5 with 1 to 3 interest only,so lets say approx $61 per tonne. So i get $300 + $50 + $36 +$61= $447 US per tonne, so somewhat below AJM's $550 t but i believe a realistic figure, thoughts anyone?

Christopher