I agree that management are looking to minimise dilution which is a good thing.
As for unit costs, at one of the recent meetings it was suggested that cash costs were around $6,000 per ton and they could sell for $16,000 per ton - even allowing for a truckload of interest, depreciation etc I can see a very healthy margin on the eventual 150,000 tons per year!
BOT Trading, page-8
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