Mr Gupta's Fe needs can be met by HAV, page-39

It is unrealistic to think that the Grants iron deposit could compete with the Pilbara. If Havilah tries to tap into the iron market they would go bankrupt pretty quickly, similar to what happened to Arrium Resources.

Unfortunately, Havilah could never get their costs to process and ship the ore down to the levels of BHP, FMG, Rio and Hancock. All of these sites, are positioned a lot closer spatially to the asian customers. They also all produce a direct shipping ore product (Bene plants are only at the legacy producing mines e.g. Whaleback.). These two factors alone would be enough. But when you also factor in that South Flank and Silvergrass are both starting up, this will mean an increase In higher Fe grade, lower impurity product which will significantly contrubute to an already oversupplied market.