2014 average io price $145 - $150

At world-class $21/t, the capex could be repaid in a bit over a year if IO price is anywhere near these numbers when Mlabam-Nabeba starts shipping.

No other mine I know off can do that anywhere in the world that can pay off capex for port, rail, mine development in so short a time.

Hard to believe (or not laugh) it's only worth 20c/share (notwithstanding international tender returning from China, Japan, Korea, Europe, India and elsewhere) to be worth just 13% of high-cost 15MTA magnetite Tonkolili that China has valued very loudly to the world.

RUSSIAN METAL MARKET: 2014 iron ore price to average $145-150, bank says

The average iron ore price in 2014 will be $145-$150 per tonne cfr China, the chief expert at Gazprombank's economic forecasting centre said on Monday November 11.

http://www.steelfirst.com/Article/3277265/News/RUSSIAN-METAL-MARKET-2014-iron-ore-price-to-average-145-150-bank-says.html