IMO and based on recent BCI projections I don’t believe that the SOP component on the project should be considered as just icing on the cake.
Numbers may change a little but some basic maths based on BCI’s project projections shows that the SOP component is going to be a substantial contributor:
5.3mt pa Salt = revenue ($50/t) = $265,000,000. Potential profit (Costs at $35/t) = $79,500,000. Capital Cost = $1.6bn
140kpta SOP = revenue ($1000/t) = $140,000,000. Potential profit (Cost at $300/t) = $98,000,000. Capital Cost = $130m
BCI Price at posting:
26.5¢ Sentiment: Hold Disclosure: Not Held
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