Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-4

Good info Shawinvest.

Those margins are impressive and would make the current market cap circa 0.3x EBITDA at 1m tpa.

It seems CUBE hold the key to our near term future, would be interesting to know what potential capacity they have for us now (sounds like 1m tpa). I understand the Port is expanding and extra capacity is earmarked for other commodities outside of Iron Ore. The article I read actually specifically stated "silica sands" as one of the commodities that would be exported via Geraldton.

$50-70m MC seems reasnable in the short term if we can get some clarity on sales price, AISC and port capacity. That is 1.5-2.5x upside in the short term.