scoping study released, page-25

A little information is a dangerous thing Atma.

Iron prices for Hamersley Fines are, with the increased price for 2008, $US144 /dmtu.

Fines pricing takes into account both the nature of the ore and the lower grades, and the price is based on iron units already so there is no further discount required.

Using the 57%, and 0.95 AUD/USD you get a price of $80 per tonne. Projected increases for prices next year are on the order of 20% already, making it $96 / tonne in 2010, the year they expect to start production.

Furthermore, at a cost of $42, and YOUR price of $75, that is a 78% margin. I don't know where you're from, but in my books, that is pretty healthy. Even if iron prices retreated to $60 tonne, the margin is still 40%

Fixed interest is 7.5%?