Given current unpredictable world macros, $120/ton seems like a good price to sell to Bao or other steelmaker,if CWRN's contacts are currently buying.

$10-14/ton til 2002, reached $45 for 1st time ca 2008-2009,maxed at $191.90 (best source) Feb 2011,crashed Sept-Oct 2011 to a low of ca $119 (current price) ,recovered to $140 end of 2011,and late this summer was low as $86/ton briefly-volatile like everything else in this world has become.

CWRN's cost of production should be in the lower half of juniors-or below ca 12/ton,so add mostly trucking (9.24/ton for 1st shipment -calculated from May 26 2011 PR) and shipping (CWRN prognostications have hoped for ca 15/ton for a 60k or larger ship)-the biggest non production cost,would be ca 40/ton plus other unknowns or a higher shipping still should leave costs at 50 or below. (When prices were $10-14, buyers obviously had to pay for shipping.)

And CWRN's agent publicly posted that the cement product trucked to CEMEX Ensenada cement plant was paying most of the overhead.
Plus CWRN's over 200k tons of waste -fertilizer and .5-1mm sinter fines - is probably worth 20 million even if not processed further by an onsite fertilizer plant.