SYR is a terrible comp. SYR 490km through mountainous and rougher terrain with a more delicate product. BSE transport is a dedicated mostly flat 55km to port from the MSP located at the mid-point of the reserve area. IDK how you ever came up with at least USD100/t transport for BSE.
All there in the preso so not sure what there's "not to get". This will cost a few $ a tonne (at 20c per tonne per km its $11/t, which I doubt it could be much higher as you can get rates as low as 12c in the middle of WA) to get to port then shipping will be sub USD25/t to China. Googling fuel costs will show Diesel prices are pretty consistent with Australian prices at a retail level and marginally higher than Tanzania (SYR comp). With a CIF price of USD225/t, there is a lot of margin in the ilemnite on its own, let alone with the Rutile and Zircon.
BSE Price at posting:
28.0¢ Sentiment: None Disclosure: Not Held
(20min delay)