My bad, sorry mate, you are totaly right.
So basicly the company plans to sell over half of our 70% and that cash will be used to develp the project and I like this coz shareholders should not be asked to chip in much or nothing.
Now at todays prices the company would be earning a profit of US$850mil/y but the PFS says only US$400mil/y.
To be honest with you I think US$400mil/y is great / $0.75 = $533,333,333mil AUD.
x 30% = $160,000,000mil/y for us. Obviously it could be double the amount if the iron ore price is what it is today right?
At this stage we have aroud 275mil shares on issue and I guess we'll have 300-400mil at the end. Still superb earnings for us. $160mil/ 300mil shares is 53c/sh after all is paid off.
No doubt the company will be bought when things look sweet. Just thinking loud here... you never know do you
