Taken from FMGs own media release:
https://www.fmgl.com.au/docs/default-source/announcements/fortescue-announces-execution-plan-for-industry-leading-decarbonisation.pdf
Even the numbers you mention, once you take off FTC and convert to US arrives at less than US$1.
Again, not a hater very bullish on FMG personally however when performing any analysis you want to make sure your inputs are correct as this materially changes yours.
Has FMG made a blunder by developing green hydrogen ?, page-31
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