Moving forward.., page-21

Apologies again - excuse my brain today - although at least can see I’m very conservative with calculations in my head .

$14US shipping + additional ~ $10 US costs mining / tonne - even averaged up to -
~ $25/t US Total Costs , per tonne delivered Ore (SJ ) into Asian destination — working on lower guidance of $40US / tonne returns .

*Gives at least - $20 / tonne Aust Dollars = Profit - per Tonne (fully mined , shipped and delivered )
For DSO - Laterite Ni : Axiom indicative margins because ore is not deep , nor far from sea Offtake points .

On 2million tonnes even from San Jorge on its own - in the next 18 mths to ~ 2years .
(Total project best worked together although each part of Isabel has own feasibililites and metrics . Together more capability to supply varying ores . )

Fairly compelling !

I’ll leave it to people better qualified to provide complex figures .
In the end- much is avail, that can conclude from past reports , recent reports and current Shanghai Nickel market information.

Recommended is to watch LME Nickel commodity information - from the LME Nickel conference .