real cost per ton , page-4

Love your work.

Do you know what other expenses might be outside the 72-76 COGS? Would that include the freight to the port or loading costs to the ship or is that on top of the 72-76? I have a feeling that is the cost to extract the magnetite but that is a pure guess.

Have you factored any SG&A to your models? Just curious what a NOPAT might look like. Obviously the iron ore price will be the main factor in the model but I have a strong view on that.