Compass sold SOP last quarter for between USD660 & 690 per tonne...

Compass sold SOP last quarter for between USD660 & 690 per tonne ~ AUD 880-920 per tonne in the USA and USD550 ~ AUD734 in South America.

http://phx.corporate-ir.net/phoenix.zhtml?c=148615&p=irol-newsArticle&ID=2312603


Based on AMN's scoping study (+/-35%) of AUD 370 per tonne that's a margin of AUD 363 - 530 per tonne on the above quoted prices.

At planned production of @ 370k tpa that's an EBITA of AUD135- 200 million per year once in full swing......

Now the ILUA is out of the way and the project has been derisked in a major way- quarterly also revealed another major derisking - that sort of went under the radar - in that it was confirmed that unlined ponds can be used.

I think we can look forward to a good 100-300% share price re-rate over the next year as we get more updates on evap, trenching and process water test work which all seems to be heading in the right direction- The PFS in the next 3-6 months, environmental approvals and mining permit grant and the DFS at the end of next year.

It will interesting to see revised price targets from Petra / Euroz / Argonaut puts out in the next couple of days.