Ann: Aurox Receives Environmental Green Light , page-11

Gindalbie will be stuffed if iron ore drops 40% to US$109/t contained Fe. This will put their 69% Fe concentrates worth barely more than $75/t - so you'll have a 8mtpa mine costing $1.6B to build producing $50M EBITDA. What a waste of time.

On the other hand, Aurox will have $65 dirt produced for $35/t.

I suspect Gindalbie gave up mungada in favor of bluehills, which is 38% Fe head grade and actually makes their dinosaur of a project worth doing. maybe.

I'll be betting people will be looking at Aurox now. however, we need to see the financing come on board by the Chinese. I'm yet to be convinced that they really can sell 60kt of vanadium. if Aurox's offtakers reckon they can shift that much vanadium, then AXO is in business. If they can't, we certainly won't see Aurox building a 10Mtpa concentrate export operation.

They should have stuck with the $270M 3Mtpa option.