tipping competition, page-11

Folks,

I haven't been following the calcs on this thread, but just looked at my spreadsheet for MCR and AGM.

In both cases of 10 and 12 USD/lb they show significantly higher NPAT for AGM for a full year. Two reasons:
1)MCR costs relatively high
2)Only 65% of MCR Ni produced is payable, I have assumed 80% for AGM (due to high %Ni in conc).

However MCR is a moving target, and imo MCR value is also increasing and MCR sp will be much higher when AGM comes into production. MCR has been judged harshly as a lowlife miner, but recent moves address this, market yet to fully note. MCR has heaps of cash and will have accumulated much more (maybe another 40 cps) before AGM starts, hence may be better comparing projected enterprise values at that point in time.

AGM captn may exceed MCR captn now, but probably not of MCR then.

EL