cassini resources czi, page-9

Bernard99
I think your calculations are a bit too optomistic.

In one of Mike's presentations he stated that the TOTAL costs would be $60/tonne. That was operating costs ($40) plus all additional costs including royalties.

I have set out below my rough calculations based on your assumptions (exchange rate $1.00, $120/tonne)

At 3.5mt per annum:
BCI share 1.750mt @ $120/t less $60 (total costs) less 30% tax = NPAT $73.5m. 73c/share.

At 5.0mt per annum:
BCI share 2.500mt @ $120/t less $60 (total costs) less 30% tax = NPAT $105m. $1.05c/share.

Either way, a very attractive return.

Note that these are pretty rough calculations.
I have done (what I consider to be) more accurate calculations and have arrive at NPATs higher than those shown above.