Bloom Lake's opex was $88 per ton for the quarter.
The Wabush mine has ore that is very high in manganese content. I'm not sure but I think that Cliffs may be mixing the cleaner ore from BL with the Wabush ore to have a product that is reasonable in manganese levels. So maybe you could just assume that Kami's ore will sell at a similar price to Cliffs' Eastern Iron ore operations...? *BUT* that price is for 1/3 of the product being pellets, which has a higher price than fines. With Cliffs, the operations produce a lot of (super) fines that are turned into pellets. Kami may get a lower price without a pellet plant.
Revenue for the quarter was $110 per ton
Royalties and offtake will be at least $7 (it's 6% at 8MT/yr, slightly higher if it turns out to be like BL and production turns out to be 7MT/yr)
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Capital cost of $989M, mine life 15.3 years.
http://www.alderonironore.com/projects/kami/simple D&A calculation
$1000M / 15 years / 8MTperYear = $8.33/ton D&A
-production might end up at 7MT
-cost inflation may push capex higher (actually you could probably read consolidated thompson's financials and cliffs' financials and figure out the real capex)
-mine life may be longer than 15 years
So at current prices:
$110 revenue
$88 opex
$6.6 royalty+offtake
$8.33 D&A
You have a profit of about $7.07 / ton on revenue of $117. At 6% profit margin, I don't think this will go into production...?
Of course I am probably off by a lot... this is just a rough back of the envelope calculation. Alderon will spend at least several million dollars on feasibility studies. A real mining company would do due diligence that retail and institutional investors aren't doing if they wanted to buy this.