Thsiphi cost =usd2.2 dmtu
Current selling price = 7.2 dmtu
margin = (7.2-2.2) us$5 per 1% of manganese content.
forecast profit: 3,300,000 ton x 36%x us5=us$594 million profit before tax a year.
49.9% belong to JMS after 28% tax =usd 214 million or aud 274 million
Current market cap net off cash = aud750M current PE 3 times
Estimate 70% paid as dividend =aud190million a year.
Current yield = 25%
Thsiphi cost =usd2.2 dmtu Current selling price = 7.2 dmtu margin = (7.2-2.2) us$5 per 1% of mangan
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