Well based off the above figures, kindly provided by 2IC, we can...

Well based off the above figures, kindly provided by 2IC, we can deduce the following:

From a 20mtpa operation at 6.5% THM we find ourselves at 1,300,000tpa.

Assuming an 80% recovery and we arrive at 1,040,000tpa.

1,040,000t per annum of slag ilmenite at the quoted $183 is still $190,320,000 USD in revenue. Or $264,310,706 AUD. *yawn*

Sure, we need to know what's the ASIC.

And personally, I wouldn't use these quoted figures from 2IC's blatant upramping... But if MRQ is even a fraction of that, it appears what Mr 2IC has been saying all along is that the company's grossly undervalued