Personally I think you have over-estimated the SP.I stand...

Personally I think you have over-estimated the SP.

I stand corrected but TiO2 is currently $800/tonne (approx)

Ilmenite $150/tonne

Gross margin $650/tonne

Operating costs????? Lets say half of gross margin = $325

Other costs lets say $25/ tonne

There we have it $300 / tonne

EPS = say 10

OK ...... 60,000*300*10/700,000,000= 25.5c

Other add ins include HCl recycle and DRI. Maybe 35c/share.

This is all assuming the 60kt/annum plant is built!

I see APG needing active license deals first with demonstrated cash flow before we look at our own 60kt plant.

Just thoughts

GC