Some back of the envelope calculations:
Say they produce 900 (mt) per month (from a presso that said 44k tonnes over a 4 year life) == 900 (mt) * $12.5k (pmt) * 12 (months),
Productions costs were a tad high due to ramp up, big mill, etc - but say it is $10M per quarter,
Staff costs are $5M per quarter add in an extra $1M for admin / corporate,
Using these rough numbers, I get approx $50M per year after tax - not accounting for future development, rehab liability, etc
Their FCF (free cash flow) after tax is $205M over the 4 year life of stage 1 (presso dated 28-04-2023) so it gels with my very rough numbers.
They have a big hungry mill so definitely no where near capacity with Stage 1 ..........
Some back of the envelope calculations:Say they produce 900 (mt)...
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