have people read the announcement ?, page-11

Buddy,
In regard to $700M Capex, it is not as bad as it seems - it works out to be about $160M/tonne of annual capacity. As a comparison the following are some examples of expected capital costings ($/tonne of annual capacity) for selected companies:
- BHP IO expansion plan = US$183M - $200M/tonne
- RIO Tinto expansion plan = US$130M/tonne
- Fortescue = US$84M/tonne (highly optimistic)
- Gindalbie Metals � Karara project expansion = US$333M/tonne
- Sundance Resources = US$115/ tonne (once again optimistic)
I understand the industry average is around $150M/tonne of annual capacity.

Cheers,
Cash