not that it changes the game substantially when you have a 10-15...

not that it changes the game substantially when you have a 10-15 year view.

but we missed the chance to sell into this due to our delayed ramp up.

$220 USD on a $120 USD AISC = $100 margins.

still not bad, but was $150,200 and $300+ for awhile.

if we got 6 months of it at $300 thats like 18-24 months at current - it would have been a good start.

ramped up to 1.2MT anually at $75 USD margin = $136million profit annually AUD ---- then whatever our share of that is if its 60% then its $80mill AUD for $150ml MC.

surely you would value at 3-4x annual profit = $240-$320ml MC = 22-27c

thats conservative pricing, if margins hold at $90-$100 USD then 27-35c seems reasonable.

need to see what optimised production run rate tops out at, and where pricing is at the time once we realize some sales