I was unsure about the margins - by my calculations $10/tonne is a bit at the low end of what they could get as with the bauxite price currently at A$62.48 (see here for details: http://www.metallicaminerals.com.au/) their peer companies would get the folliwng price (based on the opex figures that they ahev announced in their presentations):
Metro Mining - Opex: $35 Profit: $27.48 / tonne
Australian Bauxite - Opex: $25 - Profit: $37.48 / tonne
Metallica Metals - Opex: $32.72 - Profit $29.76
Bauxite resources - Opex: $33.18 - Profit $29
In short, I would hope that the margins on this are around 3 times the $10 / tonne you have suggested, but even at $10 a tonne the company will still have ore to a value of A$370 million and a market cap of A$7 million, which is why I think that this is such a good investment.
As I have said before I see Lindian as being like MMI was back when it started and it's market cap was $8 million. I have doubled my money in MMI since the beginning of the year but had I got in when it was $6 million maket cap I could have made 20 times my money.
I got into Lindian at 1.6c and so am already 35% up but I think that this is just the beginning. Long term (post feasibility and mine financing) I see this as pushing a market cap of $160 million but now I see this as undervalued. it should be at $20 million now and I see it getting there well before Christmas - which would put me at 4 times profit.
So - three-bagger by Christmas at the latest from this price IMO.
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Open | High | Low | Value | Volume |
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4 | 256555 | 0.090 |
1 | 50000 | 0.087 |
2 | 197775 | 0.085 |
1 | 3700 | 0.083 |
Price($) | Vol. | No. |
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0.093 | 153071 | 1 |
0.094 | 76090 | 2 |
0.095 | 125000 | 2 |
0.096 | 75000 | 1 |
0.099 | 4950 | 1 |
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