iron ore up 85 percent got to be good for mpi, page-5

So lets revisit the PFS calcs which they came out with in August 07.

Quote...

The Project capital and operating costs, based upon the current investigations to date are:

–Capital Cost
Stage 1 (0.5mtpa) A$437.3M
Stage 2 (1.0mtpa) A$302.5M

–Operating Cost
0.5mtpa A$270.65/t MPI
1.0mtpa A$252.15/t MPI

–EBITDA per tonne
0.5mtpa A$151.43/t MPI
1.0mtpa A$169.93/t MPI

–Merchant Pig Iron Forecast Price A$422.08/t


...now we replace MPI of $422 with $800 (using AUD 0.9) and get...


–EBITDA per tonne
0.5mtpa A$530/t MPI
1.0mtpa A$548/t MPI


Now would this be right?

0.5mtpa * $530 = $265m EBITDA
1.0mtpa * $548 = $548m EBITDA


Probably project costs have gone up a bit too, energy for one. But still sitting on a gold mine by the looks.