RE: earnings calculations Majormac, an excellent breakdown of the process. I tend to price everything conservatively similar to how you have assumed the high end of the $130-170 cost/MTU. I have a few questions on places where I would probably err more conservatively, however, but I'd appreciate your input:
In calculating the costs per MTU, where does 486000 come from in your calculations? Woudln't the costs be for the 540,000 MTU?
As for the JV plant, I'm not sure how to estimate it but I imagine there will be costs involved in this separate from the mining costs. Also, I believe it was 90% of the ore will most likely go to IMC as per the offtake at some estimated discount like 8% (this number is a wild guess and totally unsubstantiated). Finally, I'd prefer to use the long-term price estimates for APT rather than recent pricing.
But I appreciate all the work that went into this and certainly your scenario is very plausible. Thank you again.