I would agree they could get 80% at the gross margin level after...

I would agree they could get 80% at the gross margin level after harveting/processing/marketing etc, but when adding in all other costs down to EBIT, the cost of growing the harvested trees over 15 years and other overheads, the costs add up.

Perhaps they could get to 30-40% on the EBIT line given huge economies of scale.

And agree with your point RE: this board being respectful with lots of great views. Some (TLS board comes to mind!!!) are like a prehistoric jungle! Haha.