Ann: Investor Presentation (Canary Networks), page-38

Taking a quick look at this.

TAW in their PFS study have a plant at 161.2 tph for an EBITA of  $A83M per annum.

https://www.asx.com.au/asxpdf/20170711/pdf/43kkjk14z4kr79.pdf

DHR are proposing a plant at 50 tph, so the simple proportional calculation gives us:

50 / 161.2 x $A 83M = $A25.7M.

So DHR are essentially aiming to achieve a rough ballpark EBITA of $A25.7M.

Of course need to allow for differences in economics of the deposit, but good for a rough indication. TAW have Tantalum credits and stockpiles that improve their economics. I'm thinking $A15M as a conservative figure for average annual EBITA from a DHR starter pit. They could improve on these numbers if they can better TAW's 1.18% Mineral Resource grade.

They are planning to get something in operation within about 16 months. That would be super fast (and perhaps optimistic). Let's see how they go.

Edit - so A$15M+ would be a nice earner to boost funding of a more sophisticated operation targeting value-add LCE outputs.