I need some clarification here.

What I meant is : If bauxite at 50% alumina content sells for $40/ton, then a conservative estimate would put clay of 25% alumina content at $20/ton. Conservative in part for not including other resource content.

Now you have a $114.45/ton. Isn't that after processing ? Like the sale price of alumina, hematite, etc... except REE/RM ? I really meant raw ore, like raw bauxite before processing into alumina.