NET INCOME IS PROFIT. The public spot price has ranged from 120 to 191.90/ton ever since 2011.

150/ton is China's internal cost for production (agmetalminer.com 12-13-10) since their ore averages less than 20% (recent pbs? documentary-as low as 4%-ibid) -often in underground mines-so agmetalminer said 150/ton should be the near term floor for spot-absent speculators games-

why would internal mines even keep producing over long term if China could get ore more cheaply on the international market?

Jr miners average production costs are usually under 25/ton so add shipping and trucking (ca 9/ton but probably falling -from May 2011 PR when oil was higher and had 1st trucking contract)of say 29/ton leaves cost of ca 54/ton -average spot since 2011 of ca 155 so that would leave a profit of 100/ton.

But to be very conservative because I dont know what other startup costs might have been I've been estimating much less profit.

Ore was only 10-14/ton til 2002 so u can see why profit margin is huge.
CWRN profit est at 11.25 million based on my dd and publicly avail info in PR's etc