594 million tonnes at 18.2% maiden jorc, page-42

And you think with such wafer thin margins, Mr Drummond would dare go ahead with such a project? He wouldn't be able to raise the $100m finance to get either Wunarah or Aruwurrah up and running? Commodity prices like that of phosphate are volatile, and Wunarah and Aruwurah coming in at the top end in the production costs spectrum would be one of the first to go out of business if the Phosphate price dropped. We, in contrast, will be one of the last to go out of business. I am sure we can find a beneficiation plant for less than $60m (even a second hand one will do). By contrast W and A won't even be able to afford a beneficiation plant to start with - all their $100m capex is earmarked for infrastructure spending (worker accommodation, landing strip, etc.)