You made a mistake in your maths, after deducting the trucking...

You made a mistake in your maths, after deducting the trucking cost, it should be a profit of A$16 - $23 per tonne, according to your analysis. And i agree this would be FOB in geraldton. And thats the problem. Are people really saying this is a viable business, with such a wafer thin profit margin ? If any of the iron ore producers find themselves with margins lower than $40 or $50 per tonne, they start to worry. Say they did produce 2Mt per year to generate $32m-$64m EBITDA profit, that would be nice, but you are talking about huge amounts of sand, and it all has to work like clockwork to even preserve these slim margins. Remember VRX has Cinnebon as its MD, not Twiggy Forrest.

all imho, dyor