RE: costs and cash flows
This is interesting however simply speaking with regards to TKO they are rebuilding and upgrading and old mine with a new resource and expanding resource area. The have the cheapest power on the planet don't need any new permits and their capital costs are half of new projects so I need to do more research into you analysis.
However this is my view, I building myself a new house and living in the basement, I am paying for the house to be build from the money i have saved on rent. They have repeatly stated they will have costs less then 1.00 dollar a lbs.
Once they one quater where they product 30 million lbs all will be forgotton, and all of this analysis works on paper however the facts are that every quater they are making progress in upgrading the mine.
Oil is just the start, and copper is an important gobal commodity, recently we saw copper over 4 dollars it only matter of time before this become the norm. The better part of the world in now simply starting to industrialize and copper demand will only increase.
Operational issues are part of any mine startup project, however working over a producing mine is significantly harder, however the big winners will be share holders when tko doubles in value.
In a little more then six month from now a person will be able to see double the share value IMHO, and if when prosperity move forward expect a double again.