I got the sinter price wrong. I wasn't being negative for the...

I got the sinter price wrong. I wasn't being negative for the hell of it.

the different product mix, which until they started producing, was the assumed story, plus the slip in prices, at $18.5/t opex makes a big difference to share price value

it's pretty simple but this how I get to a 26-27c share price. I had thought it through.

stage one: 20yrs, 1.5mtpa rom, 615ktpa product, $45 lump, $31 sinter, $47 fines

from other notes, stage two needs $130-150m capex, I haven't put that in yet. perhaps I should so I might not feel so cheated.