costs $450/t sells at $1000/t mines 80kt /year

Let me get this straight we have: -

Positives
1. High grade mineral sands mine with mining that has just started. Expecting to produce 40kt / in next 6 months
2. Estimated production cost per tonne of $450
3. Sale price of $1000/tonne expected by end of year
4. Margin of $550 / Tonne * 80000t (Annualised)
5. Profit after costs but before tax of $44m (Every Year)
6. Market Cap of $11.5m (Current price is the 2.4c)
7. A commodity which the chinese want and must import
8. V.close by sea to China (ie Tiwi Islands)
9. Off take agreement signed by Chinese
10. Contracts for mining, for shipping in place
11. 1st delivery in July
12. No more capital required.
13. Resource upside availble drilling to start soon.

Negatives
None

Have I got all the above right ? I am looking hard for the downside to this stock but just can't find any. ? Is this stock as big a bargain as I think ?