itabirite - 9 to 13 billion tons , page-12

Hi Matt, I think that the key risk re infrastructure will be mitigated given the debt finance side of things given offtake. I expect offtake to be in the bag die to resource quality. With the prospective miners and haulage revenue in the area, the structure deal will be lucrative. Say 100 mill tons pa x $10 per ton (maybe more like $15 ) That is $1 bill year for. $2 bill investment for rail.

This is not a brain surgery op IMO. It is almost a shovel and ship op. Mot sure what the chinese would fear re ops for this particular project.

Once offtake is nailed (bankable) then it should get interesting. The chicken and egg nature of it IMO is what is causing SP lag, not big boy manipulation. Sure there are some traders playing with it, like most liquid stocks.