costs $450/t sells at $1000/t mines 80kt /year, page-24

Ok an update to my original list. Always get a bit nervous when there are no negatives on a stock but now we have some balance...

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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 (At price of 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
1. Questionable history of some members of Mgmt
2. 63% owned by SRE:ASX (also with questionable Mgmt history)
3. Possible unsettled legal action regarding Offtake Agreement
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Anything I have missed, miss reported or mis-interpreted anything??