bauxite sold u$ 50--60/t, page-3

Syd....I am not an expert and accounting/economics are not my interest so what I say may be way off mark and as such I am happy to be corrected.

When you say 32% bauxite that is in fact the Alumina which is a different price...so the way I see it is; and this is based on
130MT bauxite x 32% = 41MT of Allumina
41.6MT allumina x $370 (rough allumina price)= $15.392Billion
$15.392B x 22.5% = $3.4362Billion
EV of 1% = $34Mill

This is IGV and EV is based on 130MT Baux and if the JORC goes to 2BT then the IGV and EV will be substantially higer do you not agree...do the math and see.

Roughly I would expect the IGV to be (to ORD) about $60Billion for 2.5BT of Bauxite and EV $600Million for the 2.5BT