OK so I've worked through a bunch of scenarios based on what...

OK so I've worked through a bunch of scenarios based on what christrading suggested - increasing royalty as FOB price increases.

I've attempted to estimate the royalty based on a price scale of lowest ($60p/t) to highest ($120 p/t) and then provided increments along the way which are probably realistic. I've highlighted $80 p/t in yellow as I see this as a realistic average for the project life.

I also based it on Riverdry's suggestion that we start with a smaller 5mtpa and ramp it up to 40 mtpa within a few years, gradually

My assumptions show a potential $540 million total income generated from the project over 7-8 years if we can average $80 FOB.

Feedback & comments welcomed.