No mystery to it at all. "The WKT revenue numbers are NET, after...

No mystery to it at all.

"

The WKT revenue numbers are NET, after all the associated costs of sale, marketing, shipping and insurance costs etc are deducted. Its all been included ; )"​

Probably should have used the words Free Cash Margins (Basket Price MINUS the OPEX Costs) as after all the associated costs.

Basket Price $1515 USD / T minus Opex $347 USD / T = $1168 USD / T

$1168 USD / T x 40,000 T = $46.7M USD Free Cash Margin.
No other project comes close as a stand alone Concentrate operation.

Perhaps another read of the Wogan agreement is required to properly understand the significance of the Wogan deal, that also mentions the $8M USD Working Capital Facility.

@CROC-file @Natos have again provided and highlighted the relevant data for your research : )​

11 April 2019 - WOGAN DEAL - Binding Global Sales, Purchase and Marketing Agreement
https://www.asx.com.au/asxpdf/20190411/pdf/4446yvh7ypyg00.pdf

WKT sell to WOGAN as FOB.
The price WOGAN gets is the CIF price.
WOGAN pay for the Shipping and Insurance etc and at the same time earn their fees.

The WKT project is based upon a fully outsourced model so there are fixed pricing controls in place that allow a higher degree of certainty and accuracy as there is no requirement for setting up multiple overseas offices, or the time delays in finding and employing admin, sale and marketing experts who may not be as incentivised as Wogan ; )