RAMU

A week or two ago when nickel passed thru Us$19k (thankyou Indonesia, dont loose your nerve) I did a few jottings on the back of an envelope but never got off my fat backside to post.Anyway now for what they are worth here they are.

31kt nickel @ Us $ 19k = 589mil

3.1kt cobalt @ Us $ 30k = 93mil
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722mil
Chromite (When they start exporting) 50mil
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Total 772mil Expenses say 50%= $386m. Our share @ 8.5%= $32mil no tax for 10 years.Pay back our borrowings to MCC $80mil over say 8 years plus a bit of interest = $12m leaves $20m in the kitty.
I posted a while back that I understood that the delay in the ramp up was due to the problems with the benification plant not the refinery. Maybe thats why we dont hear anything much about the chromite. P.S.Cann't get there bloody figures lined up. ------------------