Ann: First Shipment on Track as Iron Ore Stockpile Builds, page-221

Thanks for this article.

Heres what I read .
55k t / load x $60 / t ( to $80 )
= $3.3 M
- 30%
=$2.2M clear low end profit estimate

$2.2M x 18.19 ship loads for 1M tpa ( this year)
= $40001800 clear low end profit for 1Mtpa
(tax free due to credit)
x 13 for very low end Market Cap
=$520234000 MC we should be Right now ($1.74 SP)

plus TNG holdings, EMT holdings , 300k oz gold JORC
add a little in for iron ore reserve.

Now times that by 7Mtpa if we manage to get there.

These figures are only based off that newspaper article and estimates are at low end so till 2 quarterlies including next in 2 weeks it won’t be fully confirmed.

Anybody who thinks current MC has 1Mtpa already baked in is f ing kidding them self.