No hostility intended. 1 million tonnes per year * 0.025 Nb2O5 * 0.7 Nb per Nb2O5 * 0.6 (recovery) * $A60 per tonne Nb * 0.4 (CBMM gross margin) * 20 years (CBMM PE ratio) ~= A$5b. I am optimistic about the project economics without any strong assumptions.
WA1 Price at posting:
$14.51 Sentiment: None Disclosure: Held
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