Next train station: "$3-City", page-345

So assuming to produce 210 ktpa, then one third is pure manganese metal, say 70ktpa, at $2500 US$/t operating margin, this ~US$200M USD.

Not sure where you got the ops costs from, I guess we will see detail in the PFS, but this is about right compared to previous rough assessments of profitability of the Battery Grade project. So dependent on finish product price, but looks very promising, especially with prices sustaining and moving up as demand picks up in coming years.

I would say PFS will be in a range of 1-3 year payback, which is a go under any funding standards.