net profit, page-2

Both too low if current prices sustained and production targets are met.
Original feasibility study profitable at $5100 per ton so have to assume production costs were below $3000/tn .Allow 3500 because of lower grades on expanded site.Current price just over 10000/tn.Gives margin of
6500
Output estimate is 7300 tons(45 tns /day from mid aug )so have revenue of 73mill
and profit before tax and exploration of approx 47 mill.
Assume 4mill on exploration(very generous)and very little on interest there would still be 12mill for tax provisions and amortisation.
The following half will be slightly better ebit but full tax.
Question is if more copper is found at what stage do they upgrade plant to run copper simultaneously with zinc and or nickel.Guess they cross that bridge when they come to it but in the meanwhile there appears to be 5 years of production ahead of them in the three metals.