I belive this is a potential money maker!
Scoping study to be released shortly but i did my quick estimate on it.
Producing 500,000 tonnes per year this is equivalent to 500,000x$800=400 million per year for 20 years min = $8 bilion owns 70% = 2.4 billion
Infrastructure already exists therefore capital cost = 10 -20 million they only need to crush it down to 25 mm to be able to achieve the 50 -65 %Fe.
Test is in progress and results are showing that the 50 -56 % Fe is possible through a simple one stage magnetic separation quite cheap.
Just remember this is a hematite ore and very cheap to process.
Operating cost came up to be around the 10 mill per year this is just a rough estimate remember project in Indonesia labour cost cheaper that in Australia. Therefore 20 years x 10 mill = 20 mill worst case scenario
cash in hand 2.2 billion
number of shares in issue + options = 80 mill
Take tax and other issues of shares looking at around the $10 -$25 per share i actualy calculate it to be $25 per share.
I could be wrong do your sums. So far being doing well did well with Haz and Lrl first to post!