Rock bottom?

• Todays Iron ore spot price is $210 per metric tonne for 62% fe
• CAP's premium for its 70% fe is $25, total now $235 USD
• Operating and landed costs to China are projected to be $48 per tonne
• The $187 per tonne x 10 million tonnes per year is therfore a gross profit of $1.87 billion USD or $2.4 billion Australian
• The recent shareholder update calculates the profit at USD $400 million because they use a iron ore base price of $63 per tonne, less than a 1/3rd of todays spot price

The current market capitalisation of CAP is $57 million at 12 cents per share yet if the project gets up, in 4-5 years the gross profit per share will over $5.00 at todays iron ore spot prices based on 476 million shares before any P/E multiple on a 20 year mine life with a 30 year resource is applied.