$54 is based on 2.7mpta optimisation case with the potential to push that to 3.1mpta and keep the same optimised figures (as shown in PFS) but this is only based on the 62%fe benchmark and our grade is significantly higher at aprox 67.5% and therefore demands a premium that could international be used to attack opex down further.
Ann: Positive PFS Results for Razorback Iron Ore Project, page-596
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