The step up to 20,000 tpa is a nice to have increase in EBITDA
The flow-on effect is the increased firepower LMG has in taking stakes in off-shore nickel slag based projects. A good thing. Dividends will be more modest as a consequence, but the sp, lets say after 5 off-shore plants are operating, certainly will be something. I nominate 5 because there are by my reckoning 10 good possibilities and unlikely LNG will get them all. Linear thinking assuming $84m /20,000 t.p.a x 500,000 tpa ~ 2.1 m EBITDA, at which point I suspect there will be dividends.
✌ fingers crossed.
(Not including any increase in Mg prices and reduction of %ownership as some slag waste holders will want some stake in the plant as a side hustle.)
The step up to 20,000 tpa is a nice to have increase in EBITDA...
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