Good analysis. $US90/t seems very high cost to get it to sale....

Good analysis. $US90/t seems very high cost to get it to sale. Brazil is pretty cheap and if you compare with say FEX here in OZ, who have to haul considerable distance to the port,; they achieve it for under $A80/t. Does anyone have some data on these costs?

Also we need to remember the cost of producing the stockpiled material is sunk costs. Hence only need to fund transport element of costs.

Either way, I think we are in agreement that there is plenty of upside here. Just need to see them realise it!