energio on a big winner

With early drilling results exceeding all expectations and the likelihood that this initial drilling will prove up a maiden JORC of around 750m tonnes by mid 2012 perhaps its time to look at some operating costs compared with a similar mine in Australia (I do recall someone saying EIO wouldnt be able to compete)
Based on a 20 million tonne per year mine and employing 300 people here are my back of envelope calculations...

EIO, Nigeria Australia
AUD millions
WAGES (300 staff)
Aust. $150000p.a
inc super etc
Nig. $50000p.a.
(way above wages
there but we want 15 45
the best)

FUEL assuming
2 lites used per
tonne to extract
and transport
(Nig. petrol 60c
Diesel 75c
Aust. x 2) 14 28

ELECTRICITY
25kw/h per tonne est.
to process
Nig 4c kw/h $1.00t 20 130
Aust 26c kw/h $6.50t
NOTE; EIO ore is
in sandstone and
requires only a
third the electricity
of most other types
of iron ore to process
but to cover any unforeseen
additional processing.

CARBON TAX
(prelim. model by Royal
Res. ROY (ASX) btw.
$2 and $5 Tonne,
say $3.50 tonne nil 70

MINING TAX
unsure here,
say $2 tonne nil 40


STATE ROYALTY
unsure here also
lets guess $3 tonne
both WA and Nig. 60 60

TOTAL $135m. $373m.

Thats nearly a quarter of a billion dollars per year difference.

**These are only back of envelope calculations so not spot on, but you get my drift**.

With infrastructure well established and in close proximity to EIO, with only 10 metres of overburden,a soft, magnetic ore easily processed and mining gurus messrs. Burston and Carroll at the helm you may now be able to understand why I am so excited about this stock! Rock on June, 2012