If you review your Financial Accounting 101: Markup vs margin, the principle is the same.
In Melbourne, I specifically sought confirmation about the Sydney statement, and @findinggems 's interpretation is consistent with what I was told. However, at this point in the Path to Production, I do not think the quantum difference is material. There are too many other exogenous factors, none the least of which is the price (contract or spot) of LOH, which will have a great impact on total revenue.
If you review your Financial Accounting 101: Markup vs margin,...
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