Ann: Letter to Shareholders - Update on Landbridg, page-4

re: Ann: Letter to Shareholders - Update on L... yep, 40tj/d @ $8.00 x 51% = $60m p/a.

thats' Revenue p/a to WCL.

we know that about 2/3 of OPEX is partly "fixed" up to a level of 30tj/d, so profitability for that level of production will be better.

even if we take OPEX at $2/gj, that's a EBITDA of $45m p/a.

there won't be much interest cost, just to cover around $40m borrowing, and no taxes for a while as we have tax unclaimed losses. we don't have a huge admin structure. so depreciation would be biggest item - but that's a non-cash item.

so looking good.