Tacair, love your posts, but here's a possible small correction.
If the sale prices is $1000 vs. $743 that's a 34% increase in revenue, as you say. But assuming a constant cost of $364 (per DFS), gross margin increases from $379 to $636, or 68%. EBITDA is based on margin, not revenue, so if EBITDA is 68% higher then the SP at 20x EBITDA would be $1.95 per share.
Somebody please check my figures coz now even I am getting excited.
By the way, did anyone notice that the PLS BMX auction which obtained a spot price of $1250/dmt was for only 5.5% spod? We are projecting 5.8%, so that's another premium on top. Hehe.
Figaro
