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Nice work but that cost needs to come down a long way from 450...

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    Nice work but that cost needs to come down a long way from 450 or even 400USD. If they are producing say 50k a and costs are $20m then your costs are $400/t AUD. People seem to keep using USD for costs and sale price instead of converting. If they sell 38,000t for $850/t AUD/ $600 USD then margin is $450/t. Thats $17m profit minus $6m accrual for interest giving a net of around $10m.


    Obviously when recoveries improve and costs reduce further then more to the bottom line. What is really exciting is a few years time. Lets say interest is only $5m a quarter from refinancing and spod prices are at say $1200/t AUD which is still a long way from previous highs. Then say we are producing 200kt a year and $400/t AUD costs which is still below nameplate. Thats $160m profit per annum minus interest of $20m a year leaving $140m. Not bad for an EV of less than $400m if you can wait a while......

    Last edited by Palchum: 06/06/19
 
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