i cannot understand market, page-19

Add to the fact
A) this is a resource not a reserve - look honeys difference
B) the final product isn't even a premium product. 7% Si and 6% Al will attract a discount on top of the 58% Fe being below benchmark Rio/BhP ore.

This not DSO as much as they are selling it as producing 'a DSO style prosuct' yeah once you mine 5tonnea and then process it sown to one.

Processing equals capex. Low tonnage- and 17mt is very low in iron ore- equals high capex