Paddy our Concentrate at 10Ktons contains around 700 to 750 Tons Nickel. Say we put it in the middle at 725 Tons. You can actually multiply that by the price of Spot Nickel and you get the Concentrate Price. Say our 10KT concentrate at 7.25% nickel = 725 ton *US$20,000/Ton = US14.5M =A$20.4 M That is about how much we got last shipment. Now if we produce the same amount of Concentrate and Nickel Content 725Tons * (32,000) Todays PoN = US$21.750M = A$29.3M Don't worry about refining cost as Byproduct Credits actually contributes more to revenue than Refining costs. DYOR