RE:RE:comparing contribution margins per ton (SLCA vs. NI) - 2014 Margins are well above what you would expect for the first 35,000 tons.
This has barely just broken into slow-jog-stride.
Actualy I am very impressed with a contribution margin of $22 at this low entry level.
To give you some sort of a comparison - Polaris Minerals is clipping along at 3.8 million tons per annum - in a different product, at different (lower) prices - and its margin is modestly positive after 6 years.
This is a bright data pont for NI - IMHO.