No I completely get where you're coming from mate, just a lazy response from me as I've tried contacting management on multiple occasions regarding various queries like this and I never hear back.
Yes you're correct if they're sourcing it from us for $100/t one does need to take into account mining/processing costs etc. Of which, we have nfi, hence I pulled the $100 figure from nowhere.
Hopefully once it's at full scale production they'll provide us with a little clarity.
Maybe you can work backwards off of this
https://www.listcorp.com/asx/rdg/resource-development-group-limited/news/29-year-mine-life-for-lucky-bay-garnet-project-2594790.html
Project NPV (8%) A$483m
Project IRR 48%
Total Ore Reserve of 202Mt @ 5.4%HM
Total Ore Reserve of contained Heavy Minerals 10.9Mt
Total Ore Reserve of contained Garnet 9.3Mt
Ore Reserve mine life 29 years
Ann: 80.8Mt Mineral Resource Increase for Lucky Bay Garnet Mine, page-9
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