OK. Looks like I made a mistake in my first post.
The CIF price was quoted rather than the FOB. ZNC would receive the FOB (Freight On Board) price, which is 17% less than the CIF price.
At current price of US$7dtmu, ZNC would receive A$270 per tonne after royalties. EBITDA margin would be $45/t. This is 10 cents EPS.
At US$8dtmu, ZNC would receive A$308 per tonne after royalties. EBITDA margin would be $73/t. This is 23 cents EPS.
At US$10dtmu, ZNC would receive A$308 per tonne after royalties. Margin would be $150/t. This is 50 cents EPS.
I better work on those transport costs & obtain a quote.
The FOB reduces the attractiveness of the manganese here.
Looks like I was shamelessly ramping this stock.
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