Chart, page-11355

Might need to fact check what Mt. Cattlin made...EBITDA USD$60M ($85m AUD).

$4m was net profit counting all operating and investing activities plus taxes and depreciation (hint: check how much they depreciated last year ). That would also include the money they pulled into YOP, LPD, the visible activity at Sal de Vida and so on.

i.e. existing operations at Mt.Cattlin alone was worth today's market cap on a EBITDA multiple of 10!

Do note that this year will see weaker prices balanced (probably not entirely) by yield optimisation.