Good post Crumble. Unfortunately these additional costs are far...

Good post Crumble. Unfortunately these additional costs are far too often omitted from some of the more optimistic profit calculations. In addition to what you’ve posted, there are also some additional costs to consider:

Provincial royalty - 3%
Sustaining CAPEX - 4.5% of installed equipment value
Working capital - Equal to 3 months OPEX per year

The other point to consider is that AGY does not yet have a 30 year tax stabilisation certificate. To obtain one, AGY needs to submit an acceptable feasibility study. Until that occurs, AGY remains subject to tax fluctuations.