I'll have a super conservative/back of the envelope crack at this.
Assumptions:
US$1.50 margin per pound of Cu production.
Starting production of 25,000t per annum.
No further equity dilution.
US$3308 per tonne x 25,000t = US$82,687,500
4x multiple = US$330m (A$500m at today's exchange rate).
Fully diluted SOI = 2,097,000,000 x 0.24 = A$503,208,000 (MC).
So, 24 cents is possible. Over 10 bags from today's SP.
Ann: Updated Nifty MRE Reaches 1M Tonnes Contained Copper, page-27
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