Interested in your source for the 8-10 year mine life as I was of the understanding it had 3-4 years remaining. Although with a $30m per annum exploration budget (which further illustrates the region is viable) it could well be extended yet.
Your estimates on the trucking altered 3 times in a day to exacerbate your point. The best reference we have is the annual report which covers the initial shipment.
I reiterate the grades WW achieved on recommencing was less than ours, ie. in the high 20s to low 30s ((certainly not close to 40%) as they identified new markets, which further supports the E25 statement "Medium grade manganese market is the fastest growing section of the manganese market".
While I acknowledge the factors you have outlined means the 40-60% EBIT margins ConsMin attained in recent years are likely out of reach for E25. However,, it's disingenuous of you to claim this project is "a great way to lose money".
E25 Price at posting:
$1.20 Sentiment: Buy Disclosure: Held
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