I agree the JV was a great funding option.Even if the JV makes a...

I agree the JV was a great funding option.

Even if the JV makes a profit of only $10 per tonne, and ABX's share is $5 per tonne, gross profit to ABX will start at $2.5m per annum on 0.5m production. Ramping up to annual production of 2m tonnes, ABX gross profit would be $10m. And that is at a rock bottom JV profit of $10/tonne.

Approvals shouldn't be a problem. This area needs employment and the QLD government has been VERY accommodating. Having a 10-30m layer of bauxite just under the soil, means that nothing much grows very well and the land is considered poor quality. The land will be more valuable once the bauxite is removed. Just like the rehabilitated land in Tasmania.

ABX market cap is currently $29m. On a PE of 10x annual profit of $10m, Binjour would be valued at $100m minimum. All related costs would be included in JV.

Plus Alcore plus Rare earths plus Penrose (closest source of bauxite to new Sydney airport, which needs a LOT of cement for runways).

The huge undervaluation of ABX assets will become clear this year.