bhp - australia snubs china again, page-6

I see AGO leapt today on the UMC news. However, it is already a producer using FMG's port facilities.
Today's pitiful offer for UMC brings into question: 'what are the other undeveloped IO deposits worth'? 18 months ago figures were being bandied around valuing BRM, UMC etc at multple hundereds of millions. Since then very few have had a BFS completed let alone raised the cash to build the required infrasture which includes roads, railways... not to mention machinary.
During this 18 month period BHP RIO and VALE have spent massive and their IO production in 2 years time(2011) will be double that of 2008. Meanwhile, IO prices have fallen from 2008 highs as supply has increased.
My query is (esp now FMG is meeting its prod targets): How much are the remaining stranded IO deposits actually worth... now that UMC(which has 1st class quality ore) has sold for about $2/ton? You have to wonder how mnay will actually enter production?