Ann: Positive PFS Results for Razorback Iron Ore Project, page-295

Agree, that is what my understanding as well. People thought we will be only producing 2.7 mtpa each year for the next 23 years and sit at the top of magnetite mountain with a sip of beer and just look at the 5 billion tons. The folks come down here from nowhere posting their 2 cent view without even doing basic research just baffles me. For us long term holders, it doesn't matter much if SP comes down some more. The main point is the project has been massively de risked and we will change our status to producer in 3 years time. That is the reality.