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12:36
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Originally posted by Realinvestor1:
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I think CITIC pays $500 mil a year to Clive. That crazy amount. CITIC is still running the mine and recently signed agreement to mine further 1 bil ton. Imagine not having to pay $500 mil a year royalty, similar output to Sino but much better grade (Sino is 65% fe, we are 70%) which will attract larger premium, much lower cost base (in the lower quartile confirmed by Wood-McKenzie, also noted by recent independent reports).
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I reckon there must be a big steel maker telling HIO to not worry about funding and they want to patner for a 20 mtpa option. Big fish wants big profit and 20 mtpa is the way to achieve it. As @Cherly indicated recently based on his interaction with the management that 20 mtpa is most likely going to be base case scenario in the BFS study.
