From Atlas Iron report, their OPEX looks like being $36 per...

From Atlas Iron report, their OPEX looks like being $36 per tonne ? Spot prices are currently $120, with the forward estimate of around that $100 per tonne mark. Break down of the OPEX is:

Atlas Iron:
Mining: 20%
Crushing and Screening: 11%
Haulage: 28%
Port: 13%
People and admin: 17%
Amortisation: 11%

Atlantic:
Mining: 0%
Crushing & Screening: 0?
Haulage: 30% (not sure of the difference in distances)
Port: 13%
People and Admin: 10%
Amortisation: ?

So let?s say that the costs for the Haematite ore is 75% as that of Atlas to be safe ? That would put the OPEX per tonne at $27, or profit before tax of around $70 per tonne or $70 million per year on top of the $63 million per year for the Vanadium. You would think that they would trade at around 10x earnings, with a mine life of 24 years minimum (with the scope for further upgrades) and with the Bauxite in Vietnam.

Vanadium I used 5700 tonne per annum at operating margin of $11,000 per tonne. Current price around $29 per kilo and operating costs of $18 per kilo.

Anyone got an idea on our net debt position? I have done some reading but it looks like a complex situation. Prospectus reads $67 million as out net debt, although we have around $55m in cash now. What are the costs for paying out MVPL in April next year and construction costs? Does the $55m cover this or is MM securing more funding?

Let me know if I need to change the figures. From what I have read recently ( I think from this site) tax shouldn't be an issue due to the debts/writedowns from WVL etc.

Cheers