Based on rates today for iron ore KML (operator of the Karara...

Based on rates today for iron ore KML (operator of the Karara Mine) would be making on the 8.1m tonnes of annual export some $AUD90 per tonne margin on top of the all up cost of $AUD156 as per the share sale document (including all those costs which were never revealed).
If the current iron ore price was to continue for 12 months, they would make $AUD720m margin.
If they got their fingers out and produced at nameplate of 9.0m tonnes they would have made $AUD810m margin.
But I do not expect these prices to continue for long.
But all the GBG shareholder were just mushrooms.
Also the reality of GBG was that the over expenditure on the initial plant ($1billion overuns on budget of $1.6b) and including for add-ons for 16m tonnes potential production and the inability to export nameplate capacity.
Based on these i am holding the CODA shares but do not expect to get much - I see them as a lesson in stupidity (mainly mine for not demanding full and open accounting of costs which were never provided).
I would be very wary of any costings on the plant costs based on our experience with GBG in any feasibility studies especially if they are produced by engineers who usually have no understanding, experience or skill in costing projects.
Although I was impressed with GOR's costings on their gold mine plant costs - but they were assisted by Gold Fields' vast experience in the construction of gold mines.