Whoops! My error...The calculation, above, of loss of profits if...

Whoops! My error...

The calculation, above, of loss of profits if the plant shut down now for three weeks would be A$70 million, not the $30 million. Apologies - I confused the additional profit only at the higher price without adding in the original lost profit at IPL's February price. The higher cost of gas today is included in the number.

If we can operate the plant at rated capacity, which we assume is 800,000 tons, and IPL can raise its explosives prices to reflect its higher ammonia costs for the 150,000 tons supplied internally to Dyno Nobel, then the annual NPAT from Waggaman is estimated to be well over A$1 billion after tax. IPL's NPAT for each of the last three years has been only around $150 million, so getting the plant running at its rated level is critical to a handsome rise in the share price.