Ann: First Blast at Mt Carbine Restarts Open Cut Production, page-6

Scott M, Worth pointing out that the US $140 opex used by Chris Brown is due to allowing for inflation opex cost. The recent Opex cost given by EQR was $104 USD. A 35% inflation buffer seems a bit much given that EQRs updated $104 USD was only released a month ago.

Cash margin – US$224-US$140=US$84/mtu.
US$84 X 450,000 = US$38M per year (~56m AUD)

Cash margin – US$224-US$104=US$120/mtu.
US$120 X 450,000 = US$54M per year (~80m AUD)

50 million AUD would still be a great figure to get the ball rolling on the share price. PE of 12 = 600m AUD mcap. x6 of current. ~40c a share.