Ann: Merger Presentation, page-491

11200 Tonnes of production * 2204 = 24.684 Million Pounds.

$10.50 USD * 24.684 Million Pounds = $259.1 million

$C3 cash costs (all inclusive) $6.11 USD * 24.648 = $150.8 million

(Gross Profit) $259.1 - $150.8 = 108 USD Million / 1.28 to convert to AUS using 0.72 cents = 1.28 inverse.

108 * 1.28 = $138.6 million AUD gross profit.

$604 Million AUD Capex / $138.6 Million = 4.35 years payback.

The method still works out : )