Ann: US$150M Debt Finance Binding Term Sheet Signed with SINOMA, page-101

Hello adamgus - just some simple approx maths for you to save you reading all those pesky announcements:

Lets say $1000/t gross for MNS graphite & $500/t costs = $500/t profit (play with the gross price per ton to suit but I am using $1000/t as a conservative estimate)

180ktpa x $500/t profit = $90 000 000/a profit - interest - capital repayment on plant - dividends

40 years mine life @ 200ktpa from 2% of tenement that has JORC on it at present.

Really what is there to say ?  

As with IO (but substitute Graphite for IO in this case), many second tier IO producers with low grade IO & high costs will go to the wall while the BHP/RIO's of the world chug along making a nice profit.

But hey, I am a simple soul in a fools paradise. Oh well at least I'm happy in my ignorance !!