A larger processing plant will be built I'm sure, adding 50% to...

A larger processing plant will be built I'm sure, adding 50% to our capacity.

So, say we're going to be producing 190ktpa (https://wcsecure.weblink.com.au/pdf/CXO/02398931.pdf), then add the increased 50% processing figure, we get 285kt all being well.

That's 70% of the capacity of an existing producer, which has a MC of $6.25bn.

Therefore, all things being equal (which they aren't - grade, shipping costs, iron content etc., so here's a rough idea!), when we are at nameplate production, I'd envisage our MC to be approximately $4.4bn.

That looks about right in my book for next year.

Expect a share price of around $2.55 once we're steaming along and all the inevitable initial processing issues have been ironed out.

Then you have to factor in the premium to that if the Hydroxide plant gets the go ahead, which I believe it will.

Have a great weekend y'all!