Ive ended up doing the quick and dirty spread sheet and...

Ive ended up doing the quick and dirty spread sheet and extrapolated it out to EOFY 2014

Does anyone know what the ACTUAL C1 costs are?

Macquarie estimated C1 at AUS$60/t and US$70/t (62%Fe) CFR (Cost of Freight) China basis

Projected Admin costs of about AUD$833k per month

Assuming the above...and WDR hits the monthly 250,000t shipping target from July 2014
- AUD$ at circa 93c vs US$ (May drop which would be favorable)
- CFR at US$70t

By EOFY 2014 Revenue - (Production and Admin Costs) = +AUD$52.5M

Macquarie were looking to get their AUD$80M back in 12 Months...mmmm

However if as forecast the Iron Ore price goes down to US$75/t...I've used April, May and June in my calculation...then Revenue - (Production and Admin Costs) = +AUD$ 417k month...if all of the above variables stay constant....

I think the hat is going to be handed around to clear the $80.65M Macquarie debt...IMO...DYOR