cheers lazyfish,
re the .5% p (at wilgerup), see the co ann dated 17/07/08 'increase in wilgerup indicated mineral resource'
re capex
- for wilgerup that is included in the co's figures of $42t costs (mining, crush/screen, transport, shipping, environmental etc) from the co's feb '09 broker presentation [i have assumed that the port lincoln refurbishment is included in this (shipping) as the co has not stated otherwise nor specifically provided separate figures for this] and further, they have stated that wilgerup will be self-funded from the wisco jv payments
- for the magnetite operations, the only capex mentioned is up to $150M for sheep hill port (to be funded 50/50 [and owned] with wisco and wisco to assist with funding if needed) - as a consequence the (2) valuations of these only include, (the first valuation) a value based solely on the jv contributions, ie $186M [and ignoring the $75M wisco will be paying for exploration before cxm has to shell out 1c] for wisco's 60% and $40M for baotou's 50% and (for the second valuation) an additional nominal figure of $1 p dwt [neither of these valuations include the port capex, however i considered them to be sufficiently conservative and further, they are valuations solely of the exporation targets limited to half of their ELs]
if you have any ideas as to the capex beyond the above, feel free to re-crunch the numbers
cheers
re the .5% p (at wilgerup), see the co ann dated 17/07/08 'increase in wilgerup indicated mineral resource'
re capex
- for wilgerup that is included in the co's figures of $42t costs (mining, crush/screen, transport, shipping, environmental etc) from the co's feb '09 broker presentation [i have assumed that the port lincoln refurbishment is included in this (shipping) as the co has not stated otherwise nor specifically provided separate figures for this] and further, they have stated that wilgerup will be self-funded from the wisco jv payments
- for the magnetite operations, the only capex mentioned is up to $150M for sheep hill port (to be funded 50/50 [and owned] with wisco and wisco to assist with funding if needed) - as a consequence the (2) valuations of these only include, (the first valuation) a value based solely on the jv contributions, ie $186M [and ignoring the $75M wisco will be paying for exploration before cxm has to shell out 1c] for wisco's 60% and $40M for baotou's 50% and (for the second valuation) an additional nominal figure of $1 p dwt [neither of these valuations include the port capex, however i considered them to be sufficiently conservative and further, they are valuations solely of the exporation targets limited to half of their ELs]
if you have any ideas as to the capex beyond the above, feel free to re-crunch the numbers
cheers