General Discussion, page-1420

I thought I might post some "back of the envelope figures", which are startling.
I start from the assumption that management should be able to finance further development from off-take partners. Others may disagree but, from announcements, this is clearly the strategy now being pursued, and I believe will be successful. After conversion of options, they should have in excess of $10m in the kitty which should finance activities well past the end of the financial year.
We already have reference to an operation mining 1.6m tons of 1.2% spodumene per year. So, I have adopted this.


1-6m tons ore gives 320,000 tons contained 6% spodumene concentrate.
75% recovery gives 240,000 tons saleable 6%spodumene concentrate.
Current price is $12,000 a ton - gives income of $2,880,000,000
Processing should be well less than $100 a ton - gives cost of $160m which is just a rounding error.
Then we have royalties and tax which should be less than 40% which leaves $1,730,000,000 for shareholders.
I know that prices can go down and there is always some risk but apply whatever factors you want to, it is still a bonanza.

Can someone tell me where I am wrong.