Cost of production from 2013 is c.R$58 and sales price used was R$82 - So R$24/t margins.
Current minegate sale price is R$100-120 for 62% as per announcement. And that is only the equivalent of around US$32. 65% product trading at US$12-15 premium. Say we bank 25% of that or US$3. That is another R$10. So let's say that means we sell at R$110-130/t. That is margins of R$52-72. 2-3x previous margins.
Operating cashflow would be A$40-60m per annum. Essentially a 1 year payback. I can see why it's an attractive prospect.
Cost of production from 2013 is c.R$58 and sales price used was...
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