Ann: China Pit Scoping Study Finalised, page-21

revenue for project based on current LME prices i get US$4,212M for life of mine or US$324M per annum



based on profit sharing formula on pages 27 and 28 of 5 June 2018 (ignoring the silver) I get 33% govt revenue take on zinc and 27% govt revenue take on lead thus 28.5% govt revenue share

note: i could be completely wrong with the profit share. I would prefer MYL to be more overt

revenue = US$324M
less 4% royalty ($13M) less 28.5% govt share ($92M)
less opex = US135M pa (at US$84/t mined based on average ROM of 1.61 mtpa)
EBITDA = US$84

25 year depreciation
2.5% sustaining capital
25% tax rate
51% MYL profit share
72 cent exchange rate

NPAT to MYL = AUD$38M pa

i could be totally wrong