I crunched the numbers for T1 back in May and have revised it to...

I crunched the numbers for T1 back in May and have revised it to allow for an increase in the zinc price from $2,580 up to $3,215 per metric tonne. In the interests of being conservative I also increased the strip ratio of the pit from 10:1 to 14:1. I haven't allowed for any exploration decline to provide a drill platform for Mallee Bull.

All $ are USD
Reserve of 150,000 tons @ 15% Zinc Equivalent
Recovery 90%
Price of Zinc - $3,215
Strip ratio 14:1
1)Revenue = 150,000 x 15% x 90% x 3215 = $65.1 million
2)Costs
Establishment Cost (capital) for site establishment and awarding mining contract - ($1.5 million)
Total Mined (ore plus waste) is 2.25 million tons.
Open pit mining cost = $5/ton = ($11.25 million)
Transport cost assumed (based on web search) of $0.12 per TKM (tonne x km).
Round trip from Mallee Bull to CBH Endevour Mine is 340km = $40.80 per ton. Total cost = 150,000 x 40.8 = ($6.1 million)
Processing costs of $15 per ton = ($2.25 million)
General and Admin Cost (G&A) = $10 per ton of ore = ($1.5 million). Note this includes transport costs for concentrate, smelting costs/credits.
Total Cost = 1.5+11.25+6.1+2.25+1.5 = $22.6 million
Net Profit before tax = 65.1-22.6 = $42.5 million.

Peels share is US $21.25 million or AUD $27.25 million - this is more 70 percent of the companies current market capitalisation.

All in my opinion (including numerous assumptions) and obviously best to wait for the published Pre-Feasibility Study before getting too excited.