Ann: Element 25 Granted Patent for High Purity Manganese Process, page-91

This is a few days old now, unless you subscribe access to up to date info is limited, and our benchmark is 44%, not 37%, but the relationship between the price we receive after grade discount and 37% gif Tianjin is fairly close as well.
For completeness I have included the PFS chart below as well.

Prices are broadly similar to where they were when the PFS was done. 44% above US$5, 37% mid us$4,s
Anything else being posted about other benchmarks or market movements is rubbish!
Justin confirmed last week that prices were around to marginally higher than PFS.
44% MN was at US$5.14 for the first shipment and US$5.35 for the second shipment or thereabouts. Can't obviously be precise about that.

We don't know what FOB conversion is. We don't know if we are receiving mineral credits yet. If I remember correctly credits were only applied to 85% of total volume so maybe its something that kicks in over time.

Regardless, US$5.25 average, 15% discount for grade, increase FOB conversion 30% from December and no mineral credits .....US$4 /dmtu
If we are getting mineral credits, US$4.65. Personally I think it may be too early for those so I would be expecting the former for the first few shipments.

PFS operating costs starting at Stage 1 of US$2.91 dropping to US$2.65. We have already taken cost hits in FOB conversion above.

Regardless of what some mis-guided individuals are posting, that's the state of things at the moment.
The next step is already funded. There is still plenty of profit to be made as a stand alone ore business at current levels. Like any commodity market there will be fluctuations, but the PFS was appropriately conservative. In a couple of years, we hope most of this will be largely irrelevant because we will need most of the product for HPMSM.