My post-it note calculations for an average dividend over the...

My post-it note calculations for an average dividend over the life of the project dividend were something like this;
Gross profit = 150,000*(1700-650)=$A 160 million
Minus $30 million for exploration
minus $10-20 million for administration
minus $40 million in tax
minus $20 million in depreciation and amortization
=$55 million
Where 150,000 is their stated average annual production from the current mine plan. I truly have very little knowledge of Brazilian tax law, nor very much grounding in accounting for administration, depreciation and amortization. But having watched many great stories fall short of expectations of retail shareholders I included a dose of pessimism in those figures.

I would assume that they would begin paying off their debt of $80-90 million maybe over a three year period at that rate of profit. So lets say maybe
Minus $30 million
=$25 million positive cash flow
at a very generous rate of 50% given back to shareholders that works out to 1.7c or $.017 per share.
However once the iron separation plant is added in a year or two and the debt is paid off this is an entirely different story.
Gross profit = 150,000* (1700-450)=$180 m
Expenses= $105 m
Positive cash flow = $80 m
50% dividend = $.05/share
However this doesn't factor in the initial higher production, Duckhead, the Expenses of building another project (say Tropicana or what have you), M&A and does have a lot of uneducated assumptions at its foundation.
So DYOR