Time to sell ?, page-35

Assuming finance is secured and in production by 2018 EPS by 2020 should be 4c/sh i.e. 25% return p.a. on current sp/mcap (after dep/amor,tax, repay etc), assumptions 20ktpa ramped to 40ktpa in 2020 with aisc $660/t dropping to $570/t in 2020 (source broker data), basket price $1320/t and zero (yes zero) value to spherical (i.e. battery) products.
Assuming the market keeps getting it wrong and the mcap stays at $40m, EPS is 4c/sh on 40kpta of concentrate! i.e. this is the doom and gloom case of zero battery sales, zero value-add and zero ramp up to 60kpta case (let alone 80-120-150ktpa) - so the pessimistic downramping outcome is EPSc 4c/sh by 2020...
What happens for 60ktpa case, spherical sales to/through Sojitz and battery facility you ask??? DYOR this is just one analysts thoughts only and assumes finance is approved and mine is built, and is not financial advice. Have a nice weekend