Ann: Advances in the Development of Apurimac Iron Ore Project, page-39

Sensible question - you won't get an answer but seriously how much profit do we think will be left after mining, processing/crushing and then running a truck full of ore up and down those hills on a 1200klm round trip ?

Maximum production allowed is 125,000 ton per year. So if they make US$10 ton then we are talking US$1.25m. If it is $20 ton then double it. Not exactly economical mining and extraction of a finite resource for the profit of shareholders. They have the figures but have chosen not to share.At current inflated IO prices it could make some coin but it could also shut just as quickly.

Doubling production by digging 2 different concessions to get around the local laws will not see any increase to the profit margin as it will simply be double everything (income and expenditure)

I think the Directors were looking for a sugar hit to the share price, which did not eventuate.