Nifty Restart

Thought I'd start a new, non-announcement thread to capture talk on this.

There's been some speculation on the restart metrics and the All In Sustaining Costs (AISC) of the SX plant refurb and what the next year might mean for cash flow, so I looked back at the MLX restart study (11/6/2020), and found the following estimates which were interesting.






This was largely similar to what Matt is talking about. But what is interesting is:

• Pre production costs of ~ $18m (this included a few things our plan doesn't ie first 4 items, which have been incurred already or are not needed)
• AISC of $5,727 ($2.55/lb) - costs have risen, so maybe $3/lb nowadays
• 5,000 tons production cost of ~$34m
• EBITA of (say) ~$29m (assume $12,500/ton for cathode accounting for interest repayments, etc and static Aussie $)

Every extra 1,000 tons is an extra ~$6m in EBITA

Not bad metrics. Would make the SP giddy up.

All we need to do is find someone willing to fund us to the tune of (say) $20-30m. Couldn't be that hard could it ?

We'd then have a self sustaining operation which would make the next debt tranche easier to procure. Especially if MLX comes to the party and gives us some relief.

Cheers