I understand that is one reason ebner. I am suggesting another.
and that reason could be that ~ 26Mt is being earmarked for a third party supply. The specific locations of that 26Mt seem to line up with this line of thinking. The resource upgrade announcement from March 2018 states they have applied for mining licence at Yerilla, which presumably covers the Aubils deposit. Yet this resource hasn't been included in scoping study work.
Generating cash from third party supply and having $19m in the bank already also helps with limiting the dilutionno need to accept the first offer to fund DFS... let's see how the next few months play out, exciting times.
News: ARL Wages, activity pick up in Australia's iron ore heartland, page-13
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