News: ARL Wages, activity pick up in Australia's iron ore heartland, page-12

They have said all along the project is modular and expandable, and they have said they can do 2.25 with one train, or 4.5 with 2 trains. This is just bait they toss out for prospective big money interests to see what kind of interest they can catch. As an investor, do you want this 80M market cap company to look like they want to dilute you into oblivion? That's why they start small, show they can do 1 or 1.5 for a certain CAPEX, and build it up from there, because if they have to invest 25 times their market cap before they earn their first dime, your money you have in the company will lose its significance. it seems to me this management actually likes to reward their early investors.