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If you want to build a model that tries to predict how much...

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    If you want to build a model that tries to predict how much EBITDA a company makes at different processing volumes, that model is easy to build when you know what costs are variable and what costs are fixed. Orocobre appears to be reporting these things in a mixed way that makes it harder for someone to model their profitability at different volumes.

    Anything not in production is obviously much more speculative. That's not a reason to abandon numbers entirely.
 
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