Honestly that NPV number bugged me since I saw it first. It can not be right. But now little relieved after chatting with Peter. He did say management's main focus is to reduce the capital expenditure so we can become producer. Any number north of billion dollar is not easy to raise. He also talked about the supply side like FMG not much resources left, RIO, BHP etc in the same situation. But we have potentially 30 bil tonnes. Once we become producer, sky is the limit.
Ann: Maiden Ore Reserve for the Razorback Iron Project, page-283
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