It was a simple question asking if the "less than $140 per tonne" cost to customer was before or after EPA levies (around $50/t last I checked).
If we model on revenue being before any levies (real revenue around $90/t) then the current SP is about fair value. If we model that revenue is after any levies then the current SP is significantly undervalued. So, yes, my question was price sensitive![]()
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