plv valuation by my calc, page-9

Jesse a couple more things. PLV aim to ship 1.5 mill tonnes a year and the tonnes are closer to 12 m tonnes so that's an 8 year minelife and a 50% higher valuation than you said.

Using spot prices we get a margin of $45 tonne so PLV's share is $35 mill profit per year. The numbers really stack up, the bond is sorted, we just need to get the stuff on the boats