@ $2 copper and assuming sentinal comes fully online FM should generate revenue of about $3.8 billion for 2016 : 730k tons copper , 65k tons zinc , 49k tons nickel , 307k oz gold eq.
rough estimate : cash cost at about $1.30 plus .20 treatment ,refine,transport and they are left with cash flow around $900 million to service debt ($400 mill.) , sustaining capex($300 mill.)
cobre panama growth capex - $528 mill.
"This also means the current working capital position of in excess of $1.2B could be sufficient to allow First Quantum to complete the construction of Cobre Panama without the need for additional external financing. However, the margin of error could be pretty small so I think the company made a smart decision by trying to sell its nickel assets. It's a pity this has to happen at the current low nickel price, but should First Quantum get a decent price for these assets, it wouldn't have the slightest problem to bridge the gap between now and the start-up of the Cobre Panama project." SA