New to TFE but keen to increase my understanding of this co....

New to TFE but keen to increase my understanding of this co. These are my comments/queries on the model.

1) What are the assumed costs per tonne figures based upon?

2) Does this model account for capex required?

3) Where are the expected production figures sourced from? I am assuming the company has mentioned this before?

4) I guess to be conservative one would not apply a 5% year on year increase in iron ore prices given current historically high prices. I'd probably keep them steady for the next two years and a steady decline after that IF one wanted to be more conservative.

5) Discount rate of 7% seems very low.

Cheers
UIO