so going by what we sort of know from company presentations and...

so going by what we sort of know from company presentations and broker roadshows.

at a conservative margin of $1000 per tonne ($1500 basket price minus $500 opex - although I think the basket price could be more and the opex could be a touch less...but lets be conservative). Based on the above it doesn't take much to figure out potential profits based on the offtake tonnage.

50,000t = $50M annual profit = $250M over 5 years (for every $1 increase on margin = $250k/$1 over 5 years)
60,000t = $60M annual profit = $300M over 5 years (for every $1 increase on margin = $300k/$1 over 5 years)
70,000t = $70M annual profit = $350M over 5 years (for every $1 increase on margin = $350k/$1 over 5 years)
80,000t = $80M annual profit = $400M over 5 years (for every $1 increase on margin = $400k/$1 over 5 years)
90,000t = $90M annual profit = $450M over 5 years (for every $1 increase on margin = $450k/$1 over 5 years)
100,000t = $100M annual profit = $500M over 5 years (for every $1 increase on margin = $500k/$1 over 5 years)
150,000t = $150M annual profit = $750M over 5 years (for every $1 increase on margin = $750k/$1 over 5 years)
200,000t = $200M annual profit = $1B over 5 years (for every $1 increase on margin = $1M/$1 over 5 years)

So it's not hard to do the maths. So we can see how easy that an extra few dollars on that conservative $1000 per tonne margin can have 5 years down the track.

But lets see what the binding offtake says first. I'm not sure if we'll see actual $'s per tonne mentioned, but we should see how many tonne over how many years etc.

Things are definitely looking up...which is probably an understatement.

Please let me know if my maths is wrong...have put this together very quickly