There is a large chunk of cash gone from $185m revenue to EBITDA of $45m. I guess there are losses in paying for the Feed of titanium. Which should be offset somewhat once we get the other types of Feed from Dubbo.
However, even taking into account the above, I was hoping for a higher EBITDA than $45m.
I wonder what our net income/profit will be.
Ann: SCOPING STUDY DEMONSTRATES FEASIBILITY OF METALS PLANT, page-23
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